"The government's policies and measures have been effective and the country's economic growth is stabilizing at a slow pace ... Speculative and investment demand have been effectively suppressed due to the regulations for the real estate market."

Zhang Ping, chairman of the National Development and Reform Commission, saying that China's economy is stabilizing as pro-growth government policies gain traction.

"It seems that August was not the bottom for the manufacturing sector. Exports have been weakening sharply as we enter the third quarter."

Wei Yao, China economist at Societe Generale in Hong Kong, saying that China's manufacturing sector may continue to weaken after the HSBC's purchasing managers' index revealed a contraction in the sector in August.

(China Daily 08/31/2012 page14)