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Analysts expected more easing measures to be rolled out early next year to boost the manufacturing sector.

And ironically, depending on the criteria used, some of the benefits could go to Chinese-owned companies.

And the water keeps getting hotter as Washington continues to fan the flames of hysteria over it being a security threat. Hard on the heels of US Secretary of State Mike Pompeo, who on Monday warned allies that embracing Huawei technologies may jeopardize their partnerships with Washington, US Vice-President Mike Pence praised Poland on Wednesday, for "protecting the telecoms sector from China".

Analysts said the move by Goldman Sachs showed that foreign banks remain bullish about the prospects of their business in China as further financial liberalization is expected to bring more business opportunities.

And despite the decade-long stagnation of Microsoft’s stock price, and the magazine’s recent critical piece on his leadership, Microsoft CEO Steve Ballmer moved up one notch from last year to No. 9 on the magazine’s Powers That Be list.