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By admin, September 2, 2010 1:10 am

Central Bank of Japan on August 30 held an emergency meeting, announced its benchmark interest rate keep 0.1% unchanged, and relief the implementation of monetary policy. Specific measures include: expand the scale of credit and period of low-interest loans. The decision is in line with market expectations. Shirakawa of the Central Bank said, a weakening U.S. economy and the strengthening of the yen is the main reason for the decision.

At the same time, the Japanese government announced in advance a total of 920 billion yen (about 10.8 billion dollars) in new economic stimulus plan. It is reported that funding for recovery from the budget for 2009-10 fiscal year, the government is prepared to fund the program plan submitted to Congress on September 10 for approval and implementation at the end of September.

In order to avoid appreciation of the yen led to the factory moved overseas, resulting in “industrial vacuum”, the government decided to set the subsidy systeme if determine establish LED and li-ion battery production base related to environmental protection, to promote domestic investment companies.

April 2010, the Government of Japan will begin to implement environmentally friendly products points system, buy LED green dots could exchange government grants.