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Debt financing costs have also declined, with the average coupon rate on commercial paper - one of the types of debt instrument most frequently issued by companies, and with a maturity period of no more than one year - for March having declined to 3.39 percent from 4.09 percent in December.
Debt-to-equity swaps will be key to lowering corporate debt levels, and are expected to gather pace in the future with improved regulation, the official said.
Daniel Ikenson, director of the Cato Institute's Center for Trade Policy Studies in Washington, said on social media: "The Chinese did not devalue their currency. The yuan has been depreciating because of the tariffs and it is no longer tenable for China to continue to prop up the yuan. There is no manipulation."
Data on Monday showed China's FAI grew 6 percent year on year in the first half of this year, 1.5 percentage points lower than that of the first three months.
Data from Jiuzhaigou National Park showed that more than 38,000 tourists were travelling at the scenic spot on Tuesday. About a half was traveling by themselves and the others were in tour groups.
来源：资阳报