New analysis from the Shanghai University of Finance and Economics (SUFE) revealed that China's economic growth would reach 6.4 percent this year, slightly slower than the 6.6-percent reading for 2018. The report characterized China's economy as having remained "resilient" in the first half and predicted that momentum would continue through 2019.

The report conceded that the growth of trade, profits of industrial companies and manufacturing investment have all slowed in the first half. However, Zou Pingzuo, lead researcher at Financial Research Institute of PBOC and author of the report, remains optimistic about the full-year outlook.

"First, technological development is stimulating the productivity, with innovation zones like Zhongguancun in Beijing, Shanghai's Waigaoqiao, and the Greater Bay Area constantly seeing innovation breakthroughs," Zou said.

Meanwhile, the government is putting great emphasis on developing public utilities and infrastructure, and labor force in China is experiencing a transitional period to employees with more developed technical abilities, Zou further elaborated.

To make the best use of the work force, some experts advised markets to involve a mix of companies, especially from the private sector, which provides more job opportunities. And China has used a variety of monetary tools to inject liquidity into the private economy this year.

Tian Guoqiang, dean of Institute for Advanced Research of SUFE, said that the policies haven't been entirely effective.

"There's been some effects but not really enough. I think the reason is that some private companies didn't put the money into the real economy, instead of leveraging it into asset management. And the underlying reason for that is the companies' lack of confidence in the economy," Tian explained.

The dean suggests that the government should roll out more tax reduction policies. "Otherwise, the money freed from the PBOC will only get trapped in the virtual economy," he warned.