'Economy has not hit bottom'

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The world economy has not bottomed out yet, China's central bank said in a report yesterday.

It said China's government, which has allocated four trillion yuan (Dh2.1trn) in fiscal stimulus to restore economic growth, will emphasise domestic consumption as a long-term strategy.

The People's Bank of China will ensure there's ample financial liquidity to fund investments in the country, the People's Bank of China said yesterday in its 2008 report on regional economies.