China's new stimulus package: How interest rate cuts, spending measures can jump-start economy

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China's National Development and Reform Commission, the nation's top economic planner, said Tuesday that China is confident in maintaining steady and healthy economic growth, on track for its full-year growth targets. NDRC Chairman Zheng Shanjie, along with deputy heads, unveiled a broad action plan. Local governments will get 100 billion yuan from next year's central government budget and another 100 billion yuan for key investment projects by year end, Zheng said. Market sentiment has improved recently with well-performing China shares and a resurging consumer market over the National Day holidays. That's while carrying out existing policies and more measures unveiled recently. How well can stability be kept while pursuing growth targets in uncertain times? What is the bedrock of the Chinese economy?

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