Policymakers are under pressure to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

China's latest economic data indicates a slowdown, with key indicators missing forecasts. Industrial production rose by 5.7% in July, a decrease from the 6.8% gain in June and below the expected 5.9%.

China's economy lost momentum in July, with growth faltering across the board, as weak domestic demand persisted.