On Saturday,President Hu Jintao spoke by telephone with President-elect Barack Obama about a variety of issues, including the global financial crisis and how their countries might cooperate to help resolve economic problems.

Asian markets welcomed news of the stimulus plan. The Japanese Nikkei index rose 5.6 percent in trading early Monday. Stocks in Hong Kong and Shanghai rallied strongly, jumping over 5 percent and lifting share prices that have been depressed for much of the year.

The government said the stimulus would cover 10 areas, including low-income housing, electricity, water, rural infrastructure and projects aimed at environmental protection and technological innovation — all of which could incite consumer spending and bolster the economy. The State Council said the new spending would begin immediately, with $18 billion scheduled for the last quarter of this year.

http://www.nytimes.com/2008/11/10/world/asia/10china.html?_r=1&hp&oref=slogin