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China to speed up US$199 billion of domestic spending to protect growth during US trade war

Jul 25 , 2018

China has decided to encourage government spending at home as a way to handle the ongoing trade dispute with the United States, reflecting Beijing’s deep concerns about its effect on growth.

 

The State Council, the state cabinet, said on Monday that it would adopt a “more proactive fiscal policy” and would speed up raising and spending 1.35 trillion yuan (about US$199 billion) for local government, designated to be spent on infrastructure.

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