CITY MOVES: China is stepping up stimulus spending at the local level seeking to counter its economic slowdown.
BIG SPLASH: One inland city, Changsha, announced plans for a whopping $130 billion for dozens of projects.
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CONSTRUCTION BOOST: As part of the government’s “mini-stimulus” program, several other cities have disclosed plans to subsidize housing purchases or otherwise act to support the construction spending that remains the lifeblood of China’s economy. Economic growth slowed to a three-year low of 7.6 percent in the second quarter.
