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China's producer price index, which measures costs for goods at the factory gate, dropped 0.8 percent year on year in August.
China's tighter regulation on shadow banking will likely make private equity investment a more attractive financing option for local Chinese firms that face limited access to direct financing, Marchick added.
China's service exports have shown strong growth in first five months of 2019 and the trade deficit in services has narrowed by 10.1 percent year-on-year, data released Thursday by the Ministry of Commerce showed.
China, which took over the BRICS presidency this year, will host the Ninth BRICS Summit in September in Xiamen, Southeast China's Fujian province.
China's tax revenue from the service sectors rose rapidly in the first half of the year, reflecting the country's improving economic structure, the top tax authority said on Thursday.