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China prepares $370bn package to fire up cooling economy

Debt concerns risk discouraging government from going all-out

Chinese workers labor at the construction site of the railway arch bridge with world's longest span of 490 meters across the Nujiang River on the 220-km-long Dali-Ruili railway in Baoshan city, southwest China's Yunnan province. (Photo by Imaginechina via AP Images)

BEIJING -- The Chinese government is ramping up stimulus plans to keep the economy moving along amid mounting pressure, planning more than 2.5 trillion yuan ($370 billion) in tax cuts and infrastructure spending while also encouraging wary banks to extend more credit.

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