China has mini-stimulus of about $300 billion which is about 3% of the $10 trillion economy

1. China outlined a package of measures including railway spending and tax relief to support the economy and create jobs after a slowdown endangered Premier Li Keqiang’s target of 7.5 percent growth this year.

It’s a mini-stimulus package designed to stabilize growth,” said Xu Gao, chief economist with Everbright Securities Co. in Beijing. “As the growth rate is decelerating to the lower end of a reasonable range, Premier Li is trying to do something to get growth back on track.”

* small businesses will get bigger tax breaks

Under the previous policy scheduled to end in 2015, small businesses with annual taxable income of less than 60,000 yuan can get a 50 percent tax cut. The State Council said yesterday that small businesses with taxable income of more than 60,000 yuan can also have the tax cut, and the preferential treatment will be extended to the end of 2016.

* social housing will be built to replace shantytowns

“Accelerating shantytown transformation and getting millions of residents into modern buildings” can “forcefully drive investment and promote consumption,” the State Council said. The government has allocated more than 1 trillion yuan ($178 billion) this year to redeveloping shantytowns.

* railway construction will be sped up

The government will sell 150 billion yuan ($24 billion) of bonds this year to help build railways mainly in the less-developed central and western regions. Authorities will also create a development fund of 200 billion yuan to 300 billion yuan a year to increase sources of rail financing.

China plans to build more than 6,600 kilometers (4,100 miles) of new rail lines this year, 1,000 kilometers more than last year. Almost 80 percent of the investments by the central government will be allocated to the central and western region

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