Profits at China's industrial firms grew for a third straight month and at fastest pace since June 2018
The official manufacturing Purchasing Manager's Index (PMI) rose to 51.1 in July from June's 50.9, official data showed on Friday
China's economy expanded 3.2% in the second quarter from a year earlier
There signs that consumer confidence in China is gradually improving, says Reuters poll of economists.
Higher spending, particularly on infrastructure, is expected to give activity a solid boost in the second half of the year and into 2021
To avoid a demographic crisis, the government relaxed its one-child policy in 2016 to allow people to have two children, but the change has not resulted in more pregnancies
But gains were slight, and export demand remained sluggish
The People's Bank of China said on its website that it was lowering the seven-day reverse repurchase rate to 2.50% from 2.55%
According to the Federal Reserve, trade frictions -- centered on the US-China dispute -- remained the most widely cited potential near-term shock.
The report signals that the central bank remains committed to a targeted, constrained approach toward easing despite increasing economic risks
Beijing has stepped up support for the economy with major tax and rate cuts and has scrapped foreign investment restrictions in its stock market
With trade tensions worsening and the currency weakening past 7 to the dollar, policy-makers have stepped up targeted measures to support the economy
Wang added that China did not see its economy entering an end of an expansionary cycle
Fourth-quarter gross domestic product grew at the slowest pace since the global financial crisis, easing to 6.4 percent on-year as expected from 6.5 percent in the third quarter
Li said economic reform had played a critical role in China's growth, and that the fundamentals underpinning it remained unchanged
The earnings jump in May was driven by price gains and lower costs
Somehow the nation once seen as a major swing factor now accounts for more than a third of global growth
China has seen better-than-expected economic growth this year
China will push ahead with market-oriented reforms of its foreign exchange rate as well as its financial system