World Bank: Stimulus Package Stabilized Chinese Economy

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7:19 GMT

May 2009

World Bank: Stimulus Package Stabilized Chinese Economy

(RTTNews) - Wednesday, David Dollar, World Bank’s country Director for China reportedly said that stimulus spending of Chinese government helped the economy to stabilize.

Dollar added that enthusiasm about an economic recovery in China is premature. He said the revival of private investment is very important for the recovery.

Chinese economic growth had eased to 6.1% in the first quarter from 6.8% in the last quarter of 2008. Meanwhile, urban fixed asset investment had surged 30.5% during January to April period.

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