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China's consumer price index, the primary barometer of inflation, hit a 15-month high of 2.7 percent year-on-year in May, but Zhang expects inflation levels to fall in the third quarter as economic expansion weakens.

China's fresh fiscal data indicated a broader funding gap faced by the government, driving the authorities to explore new channels and maintain a balanced budget, said analysts.

China's foreign trade volume rose 15.6 percent year-on-year to 25.14 trillion yuan between January and November of 2017, while exports increased 11.6 percent to 13.85 trillion yuan. The trade surplus shrank 16.7 percent to 2.56 trillion yuan during the same period.

China's new energy vehicle sales reached 1.25 million last year, 17 times that of 2014. In 2018, sales of new energy passenger vehicles in the nation accounted for 40 percent of the global market share, Chen said.

China's ongoing deleveraging battle will continue to focus on easing corporate debt burden. [Photo/VCG]