As China's retail sales and production activity picked up in October, Wang Tao, head of Asia economics and chief China economist at UBS Investment Bank, told China Perspective that in the fourth quarter, there will be a very strong fiscal impulse to support growth, lifting annual economic growth to close to 5 percent.

The recent-launched fiscal support is expected to lift China's fourth-quarter GDP growth to more than 6 percent quarter-on-quarter and continue to support growth in 2025, Wang said, with additional policy support to come in the coming months amid a property slowdown and US tariff uncertainties.

Recent policy dynamics "signals a very strong turning of overall government policy in trying to stabilize domestic demand and boost confidence," Wang added.