According to analysts at BNP Paribas, China's economic growth continues to slow as industrial activity and exports have been hard hit by US tariff hikes.

"Domestic demand has also decelerated. The central bank is easing liquidity and credit conditions, but the reduction in financial-instability risks should remain a priority and banks are prudent. Fiscal policy is expansionary through increased investment in infrastructure projects and household/corporate tax cuts. Tax measures are expected to have some success in supporting consumer spending. Consumer price inflation has accelerated due to rising food prices (soaring pork prices), but core inflation remains subdued."