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Data from the National Bureau of Statistics shows on a yearly basis new residential housing prices in China's first-tier cities declined 0.4 percentage points more in April compared with a 0.6 percent drop in March, new home price growth in second-tier cities was even with the March level, and those in third-tier cities saw year-on-year growth 0.3 percentage points lower than a month ago.

Dalian has again become a major city with the old industrial base in Northeast China going through a period of rejuvenation.

Death toll could rise, officials say, as at least 50 hospitalized, some are critical

David Gosset, founder of the Europe-China Forum, said that given the complexities of Sino-US relations and recent tensions, it can be said that what happened in Argentina between the two leaders "stopped a negative trend".

Debt is a problem in the region, and one that appears to be increasing in importance. "But for most countries it is not debt to China that is of concern. Keep that in mind next time you hear that the Pacific is drowning in Chinese debt," they urged.