The speed in which Beijing green lights and funds new fixed asset investments will be data dependent.

FORBES: China: The Return Of Fixed Asset Investment

Manufacturing fixed asset investments and export-driven sectors are two areas that could face structural headwinds for the next several years as China moves away from an export-driven economy.

FORBES: China To Trade Sideways In Early 2013, Then Bullish

That stimulus, mostly in the form of fixed asset investments in infrastructure, followed by low interest rates, fueled a hard asset bubble that the Chinese government has been trying to pop since last year.

FORBES: Barclays Reiterates 'No Hard Landing' Call For China

Wang Tao, chief economist with UBS AG in China, told China Daily on Tuesday that extensions of local-government debt already started last year amid concerns that municipalities were hurting from a sharp decline in housing development and fixed asset investments from Beijing.

FORBES: One Way China Resolves State Budget Problems

"The cleanest example is someone who wants to retire early and had a pension plan but they don't want to start receiving pension payments, " says Boyce Greer, president of Fixed-Income and Asset Allocation, Fidelity Investments.

FORBES: Nest Egg Tapping