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China Rolls Out Mini-stimulus to Fight Slump

30 May 2012

China is rolling out a mini-stimulus to fight its economic slump but is moving cautiously after its massive response to the 2008 global crisis left a painful hangover of inflation and debt. Beijing has yet to announce a total price tag, but measures announced piecemeal in recent weeks include 66 billion yuan (US $10 billion) to build affordable housing and 26.5 billion yuan to subsidize sales of energy-efficient appliances. That limited size should make the effort more manageable than the 4 trillion yuan ($586 billion) avalanche of spending and bank loans in 2008.—AP