China's Stimulus Package Must Be Approved by Parliament
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China's 4-trillion-yuan (US$585.5 billion) stimulus package must be approved by the National People's Congress (NPC), China's parliament, a parliament spokesman said on Wednesday.
"The investment planed by the central government will be listed on the annual central budget and submitted to the NPC for deliberation and approval," Li Zhaoxing, spokesman for the Second Session of the 11th NPC, told a press conference.
The State Council, or Cabinet, announced a 4-trillion-yuan stimulus package at the end of last year to shore up economic growth amid the financial crisis, which dropped to 9 percent in 2008, the lowest since 2001.
(Xinhua News Agency March 4, 2009)