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"By threatening to impose a 10 percent tariff on an additional 0 billion of imports from China, the US President Trump has upped the ante on the trade conflict between the two," Oxford Economics said in a research briefing.

"But we do not envisage a major shift toward significant stimulus in the second half, unless the external environment worsens more substantially," said Louis Kuijs, head of Asia Economics of Oxford Economics.

"China hopes to work with all parties to build a 'Polar Silk Road' through developing the Arctic shipping routes," the document said.?

"China is an important payer on issues related to global trade and climate change. I am aware that China's policy is pro-globalization. In all the challenges at the global level, China should be constructively engaged and that will make a difference," Senbet said.

"China is only at the beginning of the journey of increased gas which we think will at least double if not triple in the next 10-15 years. Right now the percentage of natural gas in China's energy mix is still relatively small (6.6 percent in 2017) compared to some of the more advanced economies (ranging from 22 percent to 67 percent)," he said.