Stimulus package wins praise

The massive stimulus plan announced by China over the weekend to counter the effects of a global slowdown on its economy drew praise from world leaders and economists, and sent stocks rising around the world yesterday.

Australian Prime Minister Kevin Rudd said the package was good news for his nation.

"I regard that as very good news for this economy, very good news for the regional economy, very good news for the global economy, and it is certainly consistent with many discussions that the treasurer and myself have had with various Chinese counterparts in recent weeks," he said.