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Minister: More stimulus plans in the pipelines

By Tong Hao (chinadaily.com.cn)
Updated: 2009-03-04 15:58

China will introduce more stimulus policies to spur the economy as the global financial crisis grows, a senior government official said.

"The global financial crisis hasn't touched the bottom so far. It might be very difficult for China to see an 8 percent economic growth this year," China Business News quoted Li Yizhong, minister of Industry and Information Technology, as saying.

Li is a member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.

"The existing stimulus policies have already produced some positive effects and more policies will be put forward," he said.

China announced a 4-trillion-yuan ($586 billion) stimulus package in December 2008. During the first two months of 2009, the country has launched stimulus packages for 10 major industries.

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Minister: More stimulus plans in the pipelines