Investment has again emerged as a key means to prop up the economy as a run of disappointing economic figures have raised concerns that economic growth in the first quarter might slip below the official target of "about 7.5 percent".

The Southern Hainan provincial government has planned a 1.8 trillion yuan ($290 billion) investment package that includes a highway network, a medical tourism zone and a space exploration theme park, China Securities Journal reported. A program of coordinated development for Beijing-Tianjin-Hebei is also gaining traction.

As speculation rose as to whether some provincial governments may again be resorting to their own versions of an investment-spearheading stimulus package, experts dismissed the possibility of local government racing each other to roll out such packages.