According to a senior planning official last Friday, it could cost the government larger than the 4 trillion yuan ($586 billion) stimulus package already announced to boost China’s economy.

During a press conference organized by the State Council Information Office, vice-director of the National Development and Reform Commission (NDRC), Mu Hong said that the 4 trillion yuan would only be part of the country’s total investment and the central government would provide 1.18 trillion yuan for the package.

The total spending of investment from which including businesses and local government will reach 4 trillion yuan by the end of 2010. But Mu conjectured that investment from across society could be even higher. Read more…

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