Top Chinese leaders appear to be increasingly worried about the deteriorating economic picture. At the State Council executive meeting on June 19,  the official statement said “According to the Central Economic Work Conference and the Government Work Report it is important to do a good job on the ‘Six Stabilities’ and to stabilize investment.” It  declared “We must… expand effective investment and strive to achieve steady growth, structural adjustment, and benefits to people's livelihood in one move.” The previous week the NDRC relaxed rules that previously prohibited local governments from borrowing to fund the entirety of an infrastructure project. 

The State Council meeting also focused on infrastructure and discussed: Improving old residential areas in cities; Upgrading rural electric grids; and Expanding access to safe drinking water in rural areas. The meeting resolved that “[Urban renewal] projects, which are expected to cover an estimated 100 million urban residents, will focus [on] improving facilities for water, electricity, gas and optical fiber cable in old residential areas.” “In terms of rural electric grid upgrades, each provincial-level area should ensure that tasks designated in the 13th Five-Year Plan should be completed a year in advance.” With regard to rural drinking water, it emphasised that it is necessary to “To fully resolve issues such as inadequate water supply and excessive fluorine for 60 million rural residents next year.”

(Comment: The six stabilities have framed economic governance since late July 2018. They target employment, finance, foreign trade, foreign investment, domestic investment, and expectations.)