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Top economic planners explain economic stimulus measures

(Xinhua)
Updated: 2008-12-09 19:22

BEIJING -- The National Development and Reform Commission, China's top economic planning agency, Tuesday expatiated and answered questions about the wide-ranging economic stimulus package, which was announced on November 9 to offset adverse global economic conditions by boosting domestic demand.

Related readings: Economic stimulus package to improve people's livelihood  Economic work conference focuses on stable growth  China opens top economic work meeting with focus on stable growth

The stimulus package estimated at 4 trillion yuan (US$586 billion) will be spent over the next two years to finance programs in 10 major areas, such as low-income housing, rural infrastruture, water, electricity, transportation, environmental protection, technological innovation and rebuilding from several disasters, most notably the May 12 earthquake.

As for local investment supporting the central government's financial input, the top economic planners said local projects should be in conformity with the principles of scientific and sustainable development and with the related policies worked out by the central government.