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During the first six months, Chinese companies bought out or bought into 81 European businesses, down 28 percent. Since most transactions were relatively smaller ones, investment shrank by .3 billion compared with the same period last year.

During the first half of this year, ICBC cut its interest rate on new loans for micro and small enterprises with a total credit line of up to 10 million yuan per borrower to 4.15 percent, down 37 basis points from last year.

During the same period, the growth of private investment increased by 2.7 percentage points, showing that market forces have driven up financial supply to high-quality businesses. The year-on-year growth of investment in high-tech manufacturing and equipment manufacturing was 6.6 and 1.6 percentage points higher than that of the overall manufacturing industry respectively.

During his most recent visit to China, a positive atmosphere could be felt, Foster said.

During the first half of this year, overall local government bonds, also including budgeted general bonds, increased by 2.18 trillion yuan. This amount was 70.7 percent of the new debt limit of 2019, compared with 15.5 percent at the same time last year, the ministry said.