China Unveils $568 Billion Stimulus Plan....

... and they won't need to borrow from anyone to fund it. Remember, for China, it's a matter of stifling social unrest as much as economics. Based on the "10" key areas highlighted one stock we own should be sailing... but not with the US stock market so frightful.

• China unveiled a $586 billion stimulus package Sunday in its biggest move to inoculate the world's fourth-largest economy against the global financial crisis. The Cabinet approved a plan to invest the money in infrastructure and social welfare by the end of 2010, a statement on the government's Web site said. The statement said the spending would focus on 10 areas. They included picking up the pace of spending on low-cost housing -- an urgent need in many parts of the country -- as well as increased spending on rural infrastructure. Money will also be poured into new railways, roads and airports. Spending on health and education will be increased, as well as on environmental protection and technology.
• Credit limits for commercial banks will also be removed to channel more lending to priority projects and rural development, it said.
• Economic growth slowed to 9 percent in the third quarter, the lowest level in five years and a sharp decline from last year's 11.9 percent. That is considered dangerously slow for a government that needs to create jobs for millions of new workers who enter the economy every year and to satisfy a public that has come to expect steadily rising incomes. The slowdown is raising fears that millions of factory workers could be left jobless and could confound China's plans to spread economic development from the prosperous coastal manufacturing areas into poor interior regions.
• Exports have been growing at an annual rate of more than 20 percent but analysts expect that may fall as low as zero in coming months as global demand weakens.
• The U.S. allocated $168 billion earlier this year for tax rebates to individuals and tax breaks for businesses. Germany set aside $29 billion for tax breaks on new cars and credit assistance for companies. Japan allotted $275 billion for loans to small- and mid-sized businesses and discounts on highway tolls among other measures.

From another story - The new spending will be directed at a broad range of areas including the construction of railroads, highways and airports, boosting the services sector and agriculture, and upgrading power grids, the state-run broadcaster CCTV said.

Again, we have a company that focuses on Chinese electrical grids and environmental technology - but at 3x EPS it appears too rich for the US market ;)