China spends near $600 bln

(01:25) Report

Nov 10 - The world's fourth largest economy, China, plans to spend nearly $600 billion to boost demand in the face of the global slowdown.

China's central bank governor, in Brazil for a Group of 20 financial leaders meeting, said markets could also expect easier monetary policy ahead, coupled with the massive pump-priming, expected to equal to 15 percent of GDP.

Dan Sloan reports.

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