China’s NDRC: China's economy faces renewed downward pressure

China’s state planner, the National Development and Reform Commission (NDRC) is out with a statement on the Chinese economic outlook.

Key Headlines:

China's economy faces renewed downward pressure due to rising external uncertainties and domestic structural problems.

Approved 94 fixed-asset investment projects in Jan-June worth a total of 471.5 bln Yuan. 

Chinese firms signed 2.4 trln Yuan worth of debt-to-equity swaps by end-June.

Chinese firms signed 390 bln Yuan worth of debt-to-equity swaps so far this year.