China will take measures for growth

China to take measures for growth: China is in danger of growth target, rail spending and tax cuts are preparing to take a package of measures covering

After the slowdown in China, the world's second largest economy, threatened Prime Minister Li Keqiang's 2 percent growth this year, the Beijing government outlined a package of measures to support the economy and create jobs, including rail spending and tax cuts.

The government announced today that after the meeting with Li, the government will sell 150 billion yuan (24 billion dollars) worth of bonds for railway constructions, especially in the less developed central and western regions this year. Authorities will also form 200 to 300 billion yuan development fund to increase the source of railway finance.