'Weakness is largely coming from the secondary industry- most notably manufacturing. The PBOC is studying measures to ease company's financing difficulties and will also use monetary policy tool to support banks' credit expansion.
World's executive commentator Akihiro Mikoda gives some insight into the world's second largest economy.
The euro was up 0.06 percent at $1.1459, having lost 1.3 percent in a month, while the dollar index, which tracks the greenback against a basket of six major rivals, was a touch higher at 95.943. In the first quarter, 6.8 percent had been achieved, the second 6.7 percent.
Residential real estate investment increased 14 percent in the first nine months, down 0.1 percentage points from the January-August period.
On Friday, China's banking and insurance regulator said it plans to allow the wealth management subsidiaries of banks to invest product funds directly into stocks, a departure from the crackdown on such products earlier in the year.
The decline was unexpectedly strong, analysts ' expectations have not been met: they had expected 6.6 percent growth.
Nie Wen, an analyst at Hwabao Trust Shanghai, said "Looking ahead, the economic outlook is not optimistic with exports facing further headwinds as USA tariffs kick in and demand from emerging countries ebbs".
Retail sales slowed recently, prompting forecasting firm IHS Markit to lower its estimate for upcoming holiday sales growth from 5% to 4.7%.
The Trump administration argues that China has more to lose in a trade war - and will face pressure to reach a truce because it exports more than it buys from the United States and because its economy is decelerating while the US economy looks strong.
Recent rapid losses in the yuan has prompted increasing speculation whether the yuan would breach the psychologically critical 7 per dollar any time soon, given the local currency is facing double whammy of depreciation pressure amid rising Sino-US trade tensions and signs of slowing economy.
The difference between American exports to China and U.S. imports from China has risen in the past two decades.
The top price performer in September was Xian, the capital of China's northwestern Shaanxi province, whose prices rose a blistering 6.2 per cent from the previous month, NBS data showed.
Adding to China's equity worries the yuan (USD/CNY) reached its weakest level against the dollar in nearly two years at 9.9424, adding to its 11 percent slide since March.
China should "deepen" its reform and opening-up policy, the bureau said, apparently seeking to draw a contrast with U.S. President Donald Trump's "America First" stance promoting trade protectionism.
The central bank has cut reserve requirements for lenders four times this year, with the latest cut taking effect on October 15, injecting more liquidity to stimulate bank lending.
'In the end, China will do what it takes to safeguard their economy and show the US: "'Hey, we don't need you".