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China's CPI has remained at or below 2.5 percent since the start of 2016, well below its annual CPI growth target of 3 percent. "China's consumer price inflation this year will be significantly lower than that of last year (which was 2 percent)," said Yan Ling, an analyst at China Merchants Securities. "The low level of inflation will not have a major impact on the country's monetary policy."

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 will launch promotional and educational activities across the country this year to celebrate the 40th anniversary of reform and opening-up.

China's National Energy Administration said it will urge power grid companies to optimize operating procedures and improve the inter-provincial resource allocation capabilities to ensure smooth power supply during the winter.

China's GDP grew by 6.2 percent in the first three quarters, the fastest among major economies worldwide, according to official data.