BEIJING, June 30 Seven Chinese regional
governments are seeking at least 1.5 trillion yuan ($241.7
billion) worth of state and private investment to bolster growth
in the world's second-largest economy, local media said on
Governments in the provinces of Guangdong, Gansu, Jiangxi,
Shaanxi and Henan as well as those in the cities of Chongqing
and Changsha are seeking financing for nearly 1,200 projects
from state and private investors, China Business News said.
Most of the requests for investment were issued in June with
the exception of Henan province in central China and Changsha
city further south.
The concerted requests for investment is the latest attempt
by authorities to lift China's flagging economy, where growth
cooled to an 18-month low of 7.4 percent between January and
March, but has recently shown signs of stabilisation.
The calls for funds suggest China is still reliant on heavy
investment to power its economy, but they also underscore
officials' intent to clean up indebted public finances by
allowing private investors to provide some much-needed funding.
Some governments did not announce their appeals for funds on
their websites, but the solicitations are all reported by a
range of state media including the Xinhua news agency.
For Shaanxi province in western China, authorities are
seeking investment for 39 projects worth 270 billion yuan, the
government said in a statement on its website earlier this
The projects include the construction of railways, subways,
information technology infrastructure, gas development works and
cultural investment, the Shaanxi government said.
Further west in Gansu province, the local government is
seeking funding for 100 projects that include the construction
of transport networks, power grids and water conservancy works,
Xinhua said in a report last week. No figure was given on the
value of the projects.
Henan authorities had sought 385 billion yuan of funding for
400 projects in February, according to a statement on the
government's website, while officials in Changsha had sought 101
billion yuan of financing for 86 projects in May.
($1 = 6.2062 Chinese yuan)
(Reporting by Koh Gui Qing and Shao Xiaoyi; Editing by