CITICS: Morning News 20081110
<p>China Headlines: </p><p>1. China plans 10 major steps to spark growth as fiscal, monetary policies ease. The stimulus package estimated at 4 trillion yuan (about 570 billion U.S. dollars) will be spent over the next two years till 2010 to finance programs in 10 major areas, such as low-income housing, rural infrastructure, water, electricity, transportation, the environment, technological innovation and rebuilding from several disasters, most notably the May 12 earthquake. (China Securities News) <br/> <br/>2. President of PBoC Zhou Xiaochuan Projected a 8 – 9% GDP Growth for China next year (Securiities Times) <br/> <br/>3. National Bureau of Stats Forecast: Q4 CPI to Fall back further (China Securities News) </p><p>4. China's VAT reform to shed corporate tax burden by 120 bln yuan <br/> The reform was aimed at a shift from the existing production-based value-added tax regime to a consumption-based one, which enables Chinese companies to get tax deductions on spending on fixed assets. <br/> <br/>5. Ex-President of CSRC Called for the Launch of Buffer Fund, Chinese Academy of Social Science has already Proposed a RMB800bn Buffer Fund Plan to senior level within the gov't </p><p>6. Current Railway Construction Investment exceeds RMB1.2 trillion Covering 150 railway Projects. </p><p> </p>页:
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