China approved a RMB4 trillin (USD586 billion) stimulus package for the next 2 years, 2009 and 2010 to boost the Chinese internal growth rate.
This will be invested in 10 areas: budget housing, rural and key infrastructure, medical system improvements, environmental protection, industrial innovation, and raising people's income.
In addition, the value-added tax reforms will reduce RMB120 billion in tax payments by companies. The central bank will also lossen loan quotas.
It's good to have some spare cash lying around. China's foreign currency reserves amounted to USD1.9 trillion and this represents only about 25% of the reserves.
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