BAD OMENS FOR CHINA

CHINA’S ECONOMY IN DECLINE: IS THE WOLF FINALLY COMING?

He Qinglian

The Epoch Times, July 16, 2012

In recent months, bad news about China’s economy has continued to emerge. Even people who were generally optimistic have begun to worry.

In late May, Chinese people noticed that, without much fanfare, China’s National Development and Reform Commission (NDRC) rolled out a version 2.0 of its 4 trillion yuan (US$628 billion) stimulus package.

Although the NDRC tried to dampen the expectation for a new round of stimulus and denied that there is one being launched in 2012, the fact remains that there were 8,000 new industry projects from January to April.

Since early this year, the NDRC has already awarded generous grants for a lot of projects, including many large ones. The NDRC has also drastically sped up its evaluation process and approved grants for more than 100 industry projects in a single day on May 21, and for 328 additional projects in April—almost twice as many as in April of last year.

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