Local Gov'ts Bet Big on Investment Projects

(Beijing) – Still grappling with a hangover from the central government's 4 trillion yuan spending spree, local governments across China are pressing ahead with new investment plans.

In late August, the government of Guangdong Province said it would strengthen the exploitation of oceanic resources, with 177 projects designed to attract more than 1 trillion yuan in investment over the next five years. This comes only one month after the province started a campaign to enlist private investors for projects worth 235 billion yuan.