Asian markets have rallied on hopes of a stimulus program as of late. Xinhua news agency is reporting that the Chinese government has no plans for a large scale stimulus package despite. Piemier Wen Jiabao stated last week he would like to boost growth, but markets are speculating on stimulus.
“The Chinese government’s intention is very clear: it will not roll out another massive stimulus plan to seek high economic growth,” Xinhua said in the seventh paragraph of a Chinese- language article on economic policy. “The current efforts for stabilizing growth will not repeat the old way of three years ago.”
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