广播听力：Experts: China's Massive Stimulus Package to Stabilize Economic Growth

China has released an economic stimulus package of $570 billion US dollars to boost domestic demand while the tightened monetary policy imposed earlier this year has been eased.

Economists say that the massive stimulus package will help stabilize economic growth, and push forward the shift of export-oriented markets in the wake of global financial crisis. CRI Reporter Chen Xi has the details.

Reporter:
China's State Council, or the cabinet, has approved a package of capital spending plus income and consumption support measures.

According to the amount allocated, four trillion Yuan, or some $570 billion US dollars, will be used on upgrading infrastructure, particularly roads, railways, airports and the power grid. It will also be used to raise rural incomes through land reform and used on social welfare projects such as affordable housing and environmental protection.

Wang Songqi, deputy-director of the 'Institute of Finance & Banking' with the 'Chinese Academy of Social Sciences', gave his views about the package.

"I think this investment has huge implications, which will boost credit capital markets, including the money raised by the local governments at various levels. The eventual impact will be multi layer