Weaker-than-expected economic data......>

CHINA PRESS: Weaker-than-expected economic data released Monday only show the

economy has "returned to normal status," in line with the downward trend from

January to May, as the better-than-expected performance of June may have been

just "a dream", the 21st Century Business Herald said in a front-page commentary

Tuesday. The steady slowing of China's economic growth is inevitable and there's

no "new growth cycle" as some analysts have argued recently. China's current

policy environment will determine the scope for economic growth in the period

ahead, as the government continues to campaign to deleverage financial markets,

control risks, curb asset bubbles and rein in local government debt, the

newspaper said. The strengthening of China's economic foundation and

transformation to sustainable growth is a long-term process and major challenge,

which means the traditional growth model that relies on ample credit will fade.

The market should be neither overly pessimistic or overly optimistic about the

outlook. (21st Century Business Herald)