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China has cut interest rates and slashed gasoline and diesel retail prices while moving cautiously with a "mini-stimulus" plan, mindful of the painful hangover of inflation, wasteful construction and debt from its 4 trillion yuan ($586 billion) avalanche of spending in response to the 2008 global crisis. The government has promised to pump more money into the economy with spending on low-cost housing, airports and other projects. Still, industries such as oil and food processing, electrical machinery, transport, aerospace and communications equipment showed expansion, especially for large manufacturers, while production by smaller companies continued to contract. "Helped by effective policies, future market demand is expected to be steady," federation economist Zhang Liqun wrote in the report. "Economic growth will stabilize or accelerate." Weakness in the global economy is taking a heavy toll, the government survey showed, with the index for new export orders falling nearly 1 percentage point to 46.6. ___ Online: http://www.chinawuliu.com.cn/
[Associated
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