China's massive stimulus plan proved effective
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China's massive stimulus package has proved effective, with the Chinese economy having bottomed out and now in recovery mode, Chinese Premier Wen Jiabao said during an online chat Saturday.
The stimulus package brought confidence and courage, and improvements have been gradually made during its implementation, Wen said while chatting online with Netizens at www.gov.cn and www.xinhuanet.com.
Boosted by a raft of stimulus measures, China's economy expanded 8.7 percent in 2009, staging a speedy recovery after being hit by the worst global financial crisis in eight decades.
The stimulus package included fiscal spending; tax cuts; adjustment and support policies for key industries; support systems for scientific development; and improvements in the social security system.
The package has contributed to the nation's development and people's livelihood with both economic and social achievements, he added.
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