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Sunday, November 9, 2008

Bloomberg:China Announces $586 Billion Stimulus Plan to Boost Economy

By Li Yanping

Nov. 9 (Bloomberg) -- China's government announced a $586 billion stimulus plan to spur growth in the world's fourth- largest economy, helping sustain expansion as the U.S., Europe and Japan teeter on the brink of recession.

The government will spend 4 trillion yuan by the end of 2010, the State Council said in a statement on its Web site.

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