Premier Li Urges Economic Powerhouses To Consolidate Recovery-Xinhua

Economic powerhouses in China should take the lead and play a key supporting role in stabilizing the economy, with the economy at the most arduous point of its recovery, Xinhua News Agency reported, citing Premier Li Keqiang, who was speaking to officials from six major provinces including Guangdong, Jiangsu and Zhejiang. It is necessary for these provinces with large populations to find more ways to promote spending on big-ticket items such as automobiles and fulfill home purchase demand, Li said. Among the six, four coastal provinces contribute over 60% of the total fiscal transfer to the central government and must complete these payments, Li added.