China unveils mini stimulus to boost slowing economy
Published on Apr 3, 2014 12:40 PM
BEIJING (AFP) - China has announced a set of steps to boost slowing growth in the world's number-two economy, including extending tax breaks for small businesses and support measures for poor urban districts.
The State Council, China's cabinet, announced the mini stimulus late Wednesday after a meeting chaired by Premier Li Keqiang.
Anticipation has been building recently for some kind of action following a string of disappointing economic indicators, including on industrial production and consumer spending.
Li said last month that China had set its annual growth target at "around" 7.5 percent, the same level as the goal for last year, after gross domestic product grew an annual 7.7 percent in 2013, the same as in 2012 - which was the slowest since 1999.
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