towards fiscal stimulus that will be underpinned by monetary and credit easing said lu ting chief china economist at nomura holdings inc in hong kongthe policy package contained measures that included giving an additional tax cut of 65 billion yuan 96 billion to companies with rd expenditure expediting nonbudgeted special bond sales to assist local government infrastructure financing and easing restrictions on banks issuance of financial bonds for small firmsprivate investment is to be boosted by introducing projects in transport gas and telecommunications local governments will be pushed to make better use of untapped fiscal funds and policies to attract foreign businesses to reinvest will be improved together with further opening uppolicies also will seek to guide financial institutions to ensure reasonable funding to local government financing vehicles so that necessary projects arent held up to facilitate construction and planning of a number of big projects that will meet development purposes and public demand and accelerate fundamental research and core technology breakthroughs