Chinese walker

The noticeable weakening of the spot Chinese yuan (CNY) against the US dollar (USD) in the first few days of December fanned expectations that the Mainland authorities would reverse their policy of CNY appreciation against the greenback. A marked slowdown in domestic and external demand since 3Q 2008 has put the authorities under great pressure to devalue the CNY as a means to stimulating exports.
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News bank, china, depreciation, growth, Mainland China, marke

Sharply slower economic growth and grim export prospects have prompted mainland China to aggressively ease monetary policy and launched a massive fiscal stimulus package to stimulate economic growth in the past month.

The RMB4 trillion fiscal package, to be spent on infrastructural projects, subsidised housing, rural livelihood improvement etc. in the coming two years, is expected to raise the Mainland’s real GDP growth in 2009 and 2010 by two to four percentage points each.
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News Mainland China