Different kind of stimulus

Investment by local governments needs to focus on boosting development of less developed central and western areas

Some local governments' recent announcements of major investment plans have given rise to the concept of a "local stimulus".

The central authority's review and approval of a number of major investment projects have given the green light to some massive local investment plans. For example, Guizhou province in Southwest China and cities such as Ningbo in Zhejiang province, Nanjing in Jiangsu province and Changsha in Hunan province, have all rolled out long-term investment programs to boost local growth.