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Economic stimulus package to improve people's livelihood

(Xinhua)
Updated: 2008-12-09 09:47

The investments on railways, airports and other infrastructure projects, which accounted for 45 percent of the package, would help boost employment and increase people's earning, said Bai Jingming, deputy director of the Fiscal Science Research Institute of the Ministry of Finance.

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The government decided to increase the basic retirement pension for enterprise retirees by 10 percent from January 1 in 2009. The move gives them about 200 more yuan per month.

"This will not only help to enhance the residents' livelihood, but also raise their consumption capacity. Some rich families would not care too much about 200 yuan, but many low-income families would have more meat or fish in their main course for dinner every day," Zhang said.

"This is a virtuous circle of economy and will become the engine to boost the next round of economic growth," said Cao Jianhai, a researcher with the Chinese Academy of Social Sciences.

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