High targets set for local investment

More than half of China's provinces and autonomous regions have set targets for their fixed-assets investment growth at more than 20 percent for 2013, with four regions setting even higher targets, the National Business Daily reported Monday.

According to the report, Northeast China's Heilongjiang Province, Northwest China's Xinjiang Uyghur Autonomous Region and Gansu Province, as well as Southwest China's Guizhou Province have set 2013 investment growth targets of more than 30 percent, with 15 provinces and regions in central and western regions aiming for 20 percent growth.

In contrast, Beijing has lowered its 2013 investment growth target to 9 percent. Shanghai and East China's Zhejiang Province have not yet released their investment targets.

Last year, Guizhou saw the highest growth in fixed-assets investment at 53 percent.

The investment growth is in line with local GDP, with higher rates seen in western regions. Guizhou has raised its GDP growth target to 14 percent this year, but Shanghai lowered its target to 7.5 percent, lower than the nation's GDP growth 2012.