Chinese Premier Li Keqiang has called on six provinces to take the lead in supporting the country's growth after July data showed a slowdown across the board.
"Investment will accelerate in the six provinces as [the] central government will offer [a] green light to major investment projects," said Yue Su, principal economist at The Economist Intelligence Unit. She said the provinces might even get assigned their own targets for measures like employment.
They also said then that "provinces with the conditions to achieve the economic targets should strive to," according to a CNBC translation of the Chinese.The six provinces that were highlighted at Tuesday's meeting had set GDP targets ranging from 5.5% to 6.5%, for a median goal of 5.75% growth. That's according to CNBC calculations of figures published by state media.
I think the meeting reflects the fact that policymakers are disappointed about the July economic data.Tuesday's meeting highlighted the six provinces' importance to fiscal revenue.
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