'Radical' economic stimulus package in China soon

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BEIJING, Nov 6 (AFP): A radical stimulus package to fight the impact of the global financial crisis on China could be announced this month as the economy enters an "excessive slowdown", state media said today.
"Only a radical stimulus package can save the country from excessive slowdown," a senior cabinet official, who refused to be named, told the China Daily.
The official, who the paper said was close to China's top decision-makers, said he had submitted a report to the central government urging it to implement an active fiscal policy to encourage government spending and investment.
His suggestions are expected to become policy in November or December when China's government convenes its annual economic and financial conference, according to the report.
China's economy has been affected by a slump in exports as other countries are hit by the global financial meltdown.