Slowdown tests pledge to 'stay the course'

Industrial output in August expanded just 6.9 percent year-on-year, the weakest level since the global financial crisis six years ago. Fixed-asset investment, retail sales and the growth of home sales also slowed last month. The numbers underscore the risks of a deepening economic slowdown prompted by a slumping property market. The slowdown will test Premier Li Keqiang's resolve to avoid stronger monetary stimulus to meet the 7.5 percent GDP growth goal this year. Economists are hotly debating whether the government should launch a stimulus package to meet the goal. Several of those economists weigh in here.

Cao Yuanzheng, chief economist with Bank of China Ltd

China's growth rate has apparently fallen to a new floor and is groping for the next lowest level. The problem is whether the economy can hold firm at even the lower floor.