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China Stimuli Package to Boost the Two“Pillar Industries”


□ Guo Yan

  After China issued a RMB 4trillion stimulus package,thecentral government and lo-cal governments sped up thefnrmulation of plans related to the imple-mentation of this big plan last Novem-ber.On January 14,2009,China's StateCouncil unveiled plans for the auto andsteel industry,put together by the NationalDevelopment and Reform Commission inconjunction with other departments.Theindustrial assistance plans were all part ofthe huge RMB 4 trillion (US$585 billion)economic stimulus package.This plan toaid the automotive and steel industriesalso includes other industries such as shipmaking,chemicals,textiles,manufactur-ing and nonferrous metals; all industriesthat the Chinese government aims tosupport in the current global financial tur-moil.

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