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CHINA TAKES ACTION

posted on Nov 10, 08 09:20AM

China has announced a usd 586 billion spending package to boost domestic demand while vowing to carry out"moderately easy monetary policies."

A statement Sunday on the government's Web site says China's cabinet has approved a plan to invest usd 586 billion on infrastructure and social welfare by the end of 2010

It says China will adopt an "active" fiscal policy and will offer tax help of 120 billion to enterprises.

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