China has advanced this year's stimulus plans but is holding off on fresh measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war.

The Trump administration has been saying that the two countries are engaged in talks to resolve the dispute, but Beijing asserts that no such discussions are happening.

China said it will “fully prepare” emergency plans to ward against increasing external shocks, taking a patient approach in defending growth as a deepening trade war with Donald Trump piles pressure on the world’s No.