Addressing the systemic imbalances in China's urban system will be a difficult and long-term endeavor. However, as service industries and technology expand their role within the Chinese economy, there's no reason why firms and jobs can't be more evenly spread out across the national network of cities, as they are in the U.S.

Despite all the hand-wringing over the vaunted China slowdown, the Chinese economy remains the single largest contributor to world GDP growth. For a global economy limping along at stall speed – and most likely unable to withstand a significant shock without toppling into renewed recession – that contribution is all the more important.

China’s macro challenge: Stay problem-oriented and target-oriented, considerably alleviate the financing difficulty of the private enterprises, reduce excess capacity, foster a driving force for a new growth and stimulate private investment – all while speeding up supply-side structural reform.

China’s economy did not get out of the difficulty of downward pressure and was mainly fueled by real estate and price increases in the first half of the year. If China’s central bank tightens its monetary policy to some extent, the real estate market may start a periodic adjustment to be more sustainable, but the growth picture will be less rosy for the second half of 2016.

Activity in China's manufacturing sector eased unexpectedly in July as orders cooled and flooding disrupted business, an official survey showed, adding to fears the economy will slow in coming months unless the government steps up a huge spending spree.

As the world struggles to break out of a prolonged period of sluggish expansion, don’t count on its No. 2 economy to ride to the rescue.

China will relax restrictions on foreign enterprises investing in its fledgling free trade zones (FTZs) in a bid to attract more overseas capital, the country's cabinet said on Tuesday.

China’s economy grew 6.7 per cent in the second quarter, unchanged from the previous three-month period, as a buoyant property market and government stimulus boosted demand for factory output.

The accuracy of China’s official GDP and growth rates has long been a hotly debated topic, with the detention in January of Wang Baoan, the director of the country’s National Bureau of Statistics, on graft charges intensifying doubts about the agency’s integrity.

Premier Li Keqiang called on investors to view China with a “calm and cool head” at a time of global uncertainty, voicing confidence that Beijing can handle the slew of problems facing its economy.