We start today's show with a look at China's economy. Freshly released data from China's Statistics Bureau shows activities in both manufacturing and services sectors cooled in July. That's thanks to bad weather, weak demand and ongoing trade disputes with the United States. Xia Cheng has the details.

The official Purchasing Managers' Index released on Tuesday fell to 51.2, down from 51.5 in June. It was also the lowest reading since February, but remained above the 50-point mark that separates growth from contraction. A data break-down shows both new orders and production declined due to heavy rain, high temperature, and weak demand. But consumer goods manufacturing bucked the trend, with high-tech industry and equipment manufacturing rebounding significantly.

SHI ZHAOHUI, DIR. BUSINESS MONITORING CENTER, NBS "The manufacturing PMI maintained steady growth despite some fluctuations in July. That indicates China's economy is still expanding at a healthy pace."

Meanwhile, growth in China's service sector moderated in July, with the official non-manufacturing PMI dipping to 54.0 from 55.0 in June. The main reason behind the slowdown is a slump in construction sector due to bad weather. An activity reading shows the construction industry fell 1.2 points to 59.5 in July.

SHI ZHAOHUI, DIR. BUSINESS MONITORING CENTER, NBS "Sub-indices, such as new orders, recorded faster-than-expected growth in the construction sector compared with last month, which proves market demand is still there."

Chinese policymakers are counting on growth in services and consumption to rebalance their economic growth model from its heavy reliance on investment and exports. The services sector now accounts for more than half of the country's economic output, with rising wages giving Chinese consumers more spending clout. But some analysts worry that both the industrial and consumer sectors are starting to lose momentum, as the government's multi-year efforts to tackle debt risks begin to weigh on growth and the trade war with the United States threatens exports. CGTN.