It is only a matter of time before the currently depressed market stages a rebound, according to Fred Hu of private-equity firm Primavera Capital.

Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.

The US’ proposed tripling of tariffs on Chinese steel imports would be the first move in a tit-for-tat struggle that would expand the bilateral trade war, analysts said – and fuel grumblings over industrial overcapacity.

Premier Li Qiang told overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade as it seeks to shore up confidence and retain and entice investors.

China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.

China’s coming May Day holiday already has the makings of a major tourism rush, with early bookings exceeding pre-pandemic levels and the travel boom likely to fuel a much-desired round of consumption.

Despite some progress, the Chinese economy still faces problems but these can be overcome with targeted stimulus measures and a focus on sustainable development. By framing China as a threat, the US risks impeding global sustainability efforts.