China consumption slump deepens as February prices drop

China's economy still faces deflationary pressure,

wrote Zhiwei Zhang, President and Chief Economist at Pinpoint Asset Management

This is mainly due to the impact of factors such as the (Lunar New Year) being in a different month, holidays and price fluctuations of some international staple commodities,

said Dong Lijuan of the NBS in a statement

As exports face downside risk with trade war looming, the fiscal policy needs to become more proactive,

he said,