As to the increase of project investments by local governments to stabilize growth under a considerable pressure of downward economy, ANBOUND research team thinks that while the direction of the approach is right, the execution extent of it needs firstly to be mastered. The construction of infrastructure needs to be restrained, and local governments should avoid too much intervention in the direction of industrial development as far as industrial transformation and upgrading concerned. Local governments should launch projects in accordance with their affordability in finance.