Home | Russian

Our projects

China expanding subsidy programme
as it tries to stimulate its slowing economy


China is to expand a programme which subsidises the purchase of new cars and home appliances as it tries to stimulate its slowing economy.

The scheme was already on offer to rural areas, but is now being rolled out to cities and wealthier regions.

Beijing hopes to boost demand for goods made by Chinese firms while encouraging more energy efficient, less polluting, vehicles and appliances

Residents of Beijing, Shanghai and some coastal regions may benefit.

The plans came a day after the government outlined plans to revitalise and restructure its light industries sector and petrol refining industry - measures that are expected to create about 3 million jobs.

The Chinese government announced a 4 trillion yuan ($586bn; £379bn) economic stimulus package late last year.

Last month, the country's Prime Minister Wen Jiabao said China's economy was showing some signs of recovery from the global financial crisis.

Despite its problems, China's economy - the third biggest in the world - is forecast to grow by at least 5% this year, in stark contrast to many major global economies that are shrinking.

But that is half the growth rate it experienced in recent years, and exports - the mainstay of its economic growth model - have been particularly hard-hit.

Source: www.news.bbc.co.uk

Все новости