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The OECD projected that China's fiscal policy will remain supportive, with a number of tax cuts and extensions of social benefits promoting consumption amid weak consumer confidence.

The Pakistani president also pledged that his nation will actively participate in the Belt and Road Initiative and promote the construction of the China-Pakistan Economic Corridor.

The Nile Machinery Co, one of the major beneficiaries of the digital expo platform, had already reported considerable clients and opportunities tapped through the previous expos. Attracted by the investment environment and business opportunities, the company invested 0,000 and set up a factory in Kenya's capital Nairobi in March last year, producing items such as machinery components.

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The PBOC decided Friday to cut the reserve requirement ratio (RRR) by 1 percentage point in a move to increase loan funding sources of small, micro, and private businesses.

The PPI figures came alongside the release of the consumer price index, which rose 1.2 percent in April.

The PBOC conducted 70 billion yuan of seven-day reverse repos at an interest rate of 2.55 percent, 50 billion yuan of 14-day reverse repos at 2.7 percent, and 30 billion yuan of 28-day operations at 2.85 percent. All rates were unchanged from previous operations.

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The PMI for China's manufacturing sector came in at 50.5 in March, up from 49.2 in February, the National Bureau of Statistics (NBS) said Sunday.

The Opposite House, Building 1, Taikoo Li Sanlitun North, 11 Sanlitun Road, Chaoyang district, Beijing.

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The Mintel report, based on a survey of over 3,000 consumers aged between 20 and 49 and from China's first-to third-tier cities, found that 62 percent of the interviewees said they would not spend more than last year, up from 53 percent in 2016.

The PBOC open market operations are closely watched by the market, as they have become major tools for the central bank in pursuing its monetary policy.