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China's central bank, the China Banking Regulatory Commission, and the State Council have all take explicit actions in 2017 to reduce the expansion of debt - especially the mounting indebtedness of state-owned enterprises, said Roach.

China will not give ground on issues of principle during bilateral economic and trade talks, which are clearly stated in a white paper on bilateral trade consultations issued earlier this month, MOC spokesperson Gao Feng told a press conference.

China's GDP growth was 6.8 percent for the first two quarters before falling to 6.5 percent in the third. The authorities have vowed to make more infrastructure investment and appropriately loosen the monetary and fiscal policy stance to stabilize growth.

China's central bank announced a cut in some financial institutions' reserved cash amount by 1 percentage point from April 25 to support small and micro enterprises and stabilize liquidity in the banking system, according to a statement on its website released on Tuesday.

China's Minister of Commerce Zhong Shan attends a press conference on China's domestic market and all-round opening-up for the second session of the 13th National People's Congress (NPC) in Beijing, March 9, 2019. [Photo by Feng Yongbin/chinadaily.com.cn]