China cuts rates by 1.08% to aid growth
China decided to reduce the interest rate by a massive 1.08 percentage points, in an effort to jumpstart capital investments, boost housing sale and propel domestic consumption. Engine Slows Down EU's $260B Stimulus Plan Discussion: China Heading to Recession?
WB: China's GDP to slow to 7.5% in 2009
China's annual economic growth is expected to slow to 7.5 percent next year, but the country has "adequate tools" to keep the economy going at a healthy level.