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China's GDP growth slowed to 6.2 percent year-on-year in the second quarter, its slowest pace in the 27 years since quarterly record keeping began. But analysts said the brisk retail sales growth and stable employment, together with possible support measures to be rolled out in the second half, will help bolster full-year growth.

China's Middle East policy focuses on pushing forward peace process on an equal and just basis, the Chinese envoy said.

China's capital intensity ratio was 1 percent in 2001, and as of 2016, it was 18 percent, marking an 18-fold growth. Now, with overcapacity, and excess inventory and capital, China should go global supported by capital accounts, facilitating outflows of the renminbi through overseas investment and export of capital. Meanwhile, China should bring back the renminbi by exporting industrial products. Then, a full circulation cycle of the yuan will be completed.

China's 260-trillion-yuan (.67 trillion) banking sector, the world's largest by assets, has once again been assigned a heavy responsibility in easing the economic slowdown pressure. But this time they should consider more factors before taking action, said analysts.

China's Spring Festival travel rush started from Jan 21 and will last till March 1.