Serious ailments require major treatment. But as the body recovers, it could be disastrous to go on prescribing strong medicine.

While the central government is conscious of that rule, some local policymakers are still adamant in expanding investment to boost economic growth.

Hubei, a central province that is anything but prosperous compared with such manufacturing hubs as Guangdong and Zhejiang or financial centers such as Shanghai, announced an eye-popping 12 trillion yuan ($1.8 trillion) investment plan, with 5 trillion yuan to be pooled in the coming three years.