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The IMF said a stimulus equal to about 3 percent of China's annual economic output spread over 2012-13 would limit the decline in Chinese growth to about 1 percentage point. That would be about 460 billion yuan ($75 billion). China's banks might be shielded by barriers that keep its financial system sealed off from global capital flows, the IMF said. But it said a sharp fall in Western stock markets might disrupt trade credit. The government of Hong Kong, a Chinese territory with its own financial system, announced last week it will spend 80 billion Hong Kong dollars ($10.3 billion) this year on stimulus measures. Citing anemic trade, it said the Hong Kong economy could grow by as little as 1 percent this year after slowing to 3 percent in the final quarter of 2011. ___ Online: IMF Beijing office:
http://www.imf.org/external/country/
chn/rr/index.htm
[Associated
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