Economic figures released over the weekend have led to exacerbated concerns over China's economic prospects. But it is likely that the authorities will remain hands-off unless the labor market worsens.

Economic activities remained at low levels in the world's second-largest economy in May, with the growth in exports slowing to 1 percent year-on-year from 14.7 percent in April, the lowest in almost a year. Consumer inflation, meanwhile, was 2.1 percent, the lowest in three months, while producer prices dropped by 2.9 percent, the lowest since September.

What is relatively reassuring is that industrial output improved by 9.2 percent year-on-year, with the month-on-month growth momentum showing signs of improvement, and retail sales registered 12.9 percent year-on-year growth.