China's economy faces 'severe year'
27-01-2009
Finance Minister, Xie Xuren, has warned that the mainland economy faces what he called "a very severe year" in 2009. In a holiday message, Mr Xie indicated that government budgets would be strained, as taxes were cut to stem the economic slowdown. He urged government departments at all levels to exercise care in public spending and keep their books balanced. Mr Xie said the difficulties in maintaining stable economic development would increase.
