China is considering a €36.6 billion stimulus plan involving tax cuts and government spending.
The package is another sign that boosting the economy is becoming a priority.
The 370-billion-yuan proposal, which has yet to be finalised, includes 220 billion yuan in fiscal spending and 150 billion yuan in tax cuts, according to a weekly Chinese state newspaper.
News of the plan follows a slowdown in Chinese economic expansion, which some experts fear could intensify following the end of the Olympics in Beijing.
There are also concerns about the Asian giant's export engine as US growth struggles and recession looms over both Japan and the euro zone.
Chinese economic growth slowed to 10.4% in the first half from 11.9% for all of 2007, partly because of a deceleration in export growth.
Recent data showed China's trade surplus declined 9.6% in the first seven months of 2008 from the same period last year, confirming the impact of the US-led global economic slowdown.
China's Central Financial Leading Group, which is composed of senior officials from various government agencies, supports the stimulus plan but it still needs to be submitted to the State Council, or cabinet.
