Chinese Premier Li Keqiang has urged governors from around the country to foster private investment amid sharp falls in non-state spending. Li’s comments come after a noticeable slowdown in private investment growth, a sector that accounts for most capital spending, the South China Morning Post reports. While headline GDP growth was 6.7% in the second quarter with state-led infrastructure spending and a credit-primed property rebound, growth in capital spending from private investors slowed to 2.8% in the first half from 3.9% in the first five months, official data showed. At the same time, state sector investment rose 23.5%. Of particular concern are sharp drops in non-state investment in places like Liaoning province, where private investment fell 58.1% in the first half compared to the same period a year earlier.
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