China stimulus to contribute 1.9pc to growth
China's huge stimulus package is expected to contribute at least 1.5 percent to the nation's economic growth this year, a top official said Sunday, as the Asian giant continues to fight the crisis.
Zhang Yutai, head of the development research centre of the State Council, or cabinet, said the four-trillion-yuan (580-billion-dollar) package could contribute 1.5 to 1.9 percent to China's growth, the official Xinhua news agency reported.
The figure was a preliminary assessment, Zhang was quoted as saying.
The stimulus package was unveiled in November in a bid to fight the impact of the global financial crisis.
China has set an economic growth target of about 8.0 percent this year, a level that the government says it needs in order to keep unemployment at a manageable level.
However, just over a week ago, Premier Wen Jiabao admitted this target would be difficult to achieve.
On Wednesday, the World Bank slashed China's economic growth forecast to 6.5 percent in 2009.