massive chinese infrastructure stimulus wow !

http://www.telegraph.co.uk/finance/china-business/10198410/China-eyes-fresh-stimulus-as-economy-stalls-sets-7pc-growth-floor.html

China eyes fresh stimulus as economy stalls, sets 7pc growth floor

China has backed away from further shock therapy for its debt-sated economy, setting a minimum floor for growth and preparing a fresh round of stimulus measures.

The bottom line for economic growth is 7pc, and this bottom line must not be crossed," said Premier Li Keqiang, giving an explicit pledge to head off a hard-landing.

Mr Li's comments suggest a major shift in policy by Beijing, which has deliberately engineered a slow-down over recent months by squeezing credit. The government has been rattled by upheavals in the interbank market and has begun to heed warnings that the crackdown has gone too far.

China's press reported plans for a fresh burst of spending on railways and infrastructure, including a $40bn project to build the world's longest undersea tunnel across the Bohai Strait.