The pressure on the economy is increasing and this month's indicators show a faster declining tendency, the country's top planning official said.
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The central bank yesterday cut the benchmark interest rate by 1.08 percentage points, the highest in 11 years, to stimulate the economy battered by the global financial and other economic woes.
China Daily
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US, China kick off global round of rate cuts
China's central bank today announced it will cut benchmark interest rates by a surprising 1.08 percentage points, much more than its normal cuts.
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$730b plan to expand railways
The Political Bureau of the Communist Party of China Central Committee convened a meeting on Friday, analyzing and studying the economic work of next year and setting out major tasks.
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China to stabilize global markets by maintaining growth
China's central bank today announced it will cut benchmark interest rates by a surprising 1.08 percentage points, much more than its normal cuts. China Daily reaches several economists for their comments on the impact of the move.
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China's CPI projected to slide further
China's stimulus package should ensure a "soft landing" for the economy next year, but its restructuring efforts could lead to lower rates of growth over the longer term, Citigroup said in a research report.
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