China has reported its economy showed signs of slowing in July as factory output and retail sales slowed while housing prices fell further.

China's stands at 84 percent, buoyed by debt-driven growth in the 2010s and a housing market crunch that heavily indebted local governments. London-based global advisory firm Oxford Economics estimates the Chinese economy's potential growth could be cut roughly in half by the 2050s.

The Chinese economy lost some momentum in July, backing the case for policymakers to snap out of wait-and-see mode and stimulate growth.

China’s economy is stuck in a rut. Beijing’s steady incremental stimulus fuels growth spurts that have proven to not be sustainable.

The country could see its potential economic output halved by mid-century amid a flagging birthrate and aging workforce.

The latest snapshot of the world’s second-largest economy indicated that growth lost steam after a show of strength earlier in the year allowed Beijing to take a wait-and-see approach to further stimulus.

Analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.

Officials blamed U.S. “protectionism” for the dismal July data, but growth was likely held back by real estate and new policies aimed at slowing factory investments.

China's latest economic data indicates a slowdown, with key indicators missing forecasts. Industrial production rose by 5.7% in July, a decrease from the 6.8% gain in June and below the expected 5.9%.

Policymakers are under pressure to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

TICAD is a Japan-hosted international aid conference that dates back to 1993 and was last held in Tunisia in 2022. China has also been holding a forum on African cooperation since 2000 and has been increasing involvement in the resource-rich continent, including through its Belt and Road infrastructure projects.