The authorities are also encouraging local projects. The Finance Ministry is helping deeply indebted local governments borrow far more money this autumn so that they can restart stalled infrastructure projects. China’s central planners have allowed a series of big local government projects to proceed that had previously been blocked because of debt concerns. This includes the construction of five subway and light rail lines in Changchun, a big industrial city in northeastern China where Toyota, the Japanese automaker, has extensive facilities.

The financial markets are getting a boost as well.

Through the spring and summer, share prices slid into a bear market, and China’s currency, the renminbi, dropped nearly 10 percent against the dollar. Since then, China — which keeps a tight grip on the value of its currency — has pushed it to gain value against the dollar.

Meanwhile, the stock market has risen in a move that analysts say has been helped by intervention from big, government-connected investors, a group sometimes known as the National Team. On Friday, Chinese share prices fell to their lowest closing level since early 2016. But through Thursday, the Shanghai stock market had risen almost 2 percent this week.

China has also moved forcefully to reassure common investors. Its banking regulator has begun encouraging the country’s four big asset management companies to aid highly speculative peer-to-peer lending schemes that have been collapsing in recent months, though the details of that help remain unclear. And the government has deferred plans for a more stringent crackdown on various kinds of informal lending, or shadow banking, including off-balance sheet lending by banks.

Other data show how China is trying to pull off a difficult balancing act. Even as Chinese officials push for more lending, a broader measure of borrowing showed the overall flow of fresh credit slowed in July. That suggested lingering effects from the authorities’ previous efforts to crack down on some of the murkier parts of the vast but rickety Chinese financial system.

Tolerating even more borrowing by heavily indebted local governments is a short-term measure that could create long-term problems.

Liu He, a vice premier and close adviser to China’s leader, Xi Jinping, pledged in January that Beijing would bring the country’s debt under control within three years. Beijing had clamped down on some bank lending to state-owned enterprises over the last few years, data from the Bank of International Settlements has shown. Letting local governments borrow more runs counter to that.