China is making a second major stimulus push after economic
growth slowed to a three-year low of 7.6% in the second quarter. Among them
are 66 billion yuan ($10.5 billion) for affordable housing and 26.5 billion yuan
($4.4 bil.) to subsidize sales of energy-efficient appliances. The central bank
has also begun loosening bank lending and reserve requirements as inflation has
cooled considerably since last year.Other cities have announced plans to
subsidize purchase of low-cost housing and efforts to build more and faster
roads and railways, push alternative energy, stimulate sales of clean cars,
build more hospitals and improve water treatment facilities as part of the
stimulus effort.
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