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At the meeting, Li said China should adhere to prudent monetary policy and use tools, such as targeted reserve ration reductions－rather than massive stimulus－to keep macro leverage stable in the face of complex situations. Measures should be released at appropriate times to ease financing difficulties and reduce costs for small and private businesses, he said.

At the end of July, about 635 million square meters of housing was unsold in China, down by 10.8 million square meters or 1.7 percent from a month earlier.

At the end of June, commercial banks' average capital adequacy ratio stood at 13.2 percent. Liquidity coverage ratio was 124.4 percent, and the provision coverage ratio of commercial bank was 172.3 percent.

At the same time, China's trade structure will continue to optimize, and private companies are likely to dominate the export sector, Wei Jianguo, who is also vice-president of the China Center for International Economic Exchanges, told China Daily in an exclusive interview.

At the same time, the success rate of the people writing obituaries about Hong Kong over the past 40 years has been consistent: 100 percent wrong. Every. Single. Time. Sorry, Mr Patten.