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China's corporate debt is equivalent to 160 percent of the country's GDP, said Huang Qifan, deputy head of the National People's Congress Financial and Economic Affairs Committee, in June. That means the scale of debt to be converted would be colossal even if a small proportion of the debt is included in the program.

China's nuclear power program was put on hold after the Fukushima nuclear disaster in Japan in 2011, with approvals for new nuclear plants suspended and a nationwide safety review launched after the incident.

China's new energy vehicle sales reached 1.25 million last year, 17 times that of 2014. In 2018, sales of new energy passenger vehicles in the nation accounted for 40 percent of the global market share, Chen said.

China's fixed-asset investment went down 3.1 percent year on year in H1, narrowing from the 6.3-percent decline in the first five months, data from the National Bureau of Statistics showed.

China's economic development helped its imported wine market to grow.