China’s quiet stimulus helps lift steel mart sentiment
Sep 06, 2013 | 10:41 AM
SHANGHAI Chinas government wants to meet its target of growing the economy by 7.5 percent this year and has launched a package of low-profile infrastructure investments to help achieve its goal.
This program isnt on a par with the 4-trillion-yuan ($648-billion) injection seen in 2008, but it has played a crucial role in turning sentiment around, evidenced by benchmark iron ore prices averaging more than $130 per tonne so far in the third quarter.
The government appears keen to provide a steady flow of investment as it pursues a broader and riskier package of economic reform.....
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