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Chinese State Councilor and Foreign Minister Wang Yi spoke on the phone with Philippine Foreign Secretary Teodoro Locsin on Sunday to thank the Philippine government and its people "for giving China valuable support when the epidemic situation in China was severe."

China's proactive move of further cutting banks' cash reserve requirements and moving money into targeted sectors may relieve corporate credit pressure from debt reduction and cushion the impacts of a potential Sino-US trade war, said analysts.

China's supply-side structural reform has improved the earnings of traditional companies, while firms from many new industries reported robust growth, a sign of improved economic growth, the bourse said.

China, he said, has played the role of a responsible major country with its firm actions in global pandemic response

China's total foreign trade volume of goods reached 20.05 trillion yuan in the first eight months, down 0.6 percent year-on-year. The drop narrowed by 1.1 percentage points compared with the decline from January to July, according to Customs officials.