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"Despite all their efforts to date, they have failed to find the convergence of their interests or common ground", Wang said, adding that each side has underplayed the other's desire for a deal. Both sides have latched onto their own demands and principles, which has blurred the prospects of the dialogue process and exacerbated their mistrust.

"EVs are also more concentrated in eastern coastal provinces, and that's why Beijing and Shanghai are leading V2G trails, while other provinces either do not have a large fleet size nor the pain of evening power demand peak," Kou said.

"Despite the upcoming college entrance examination, I have left everything behind to lose weight here. I cannot afford to waste a whole day lying in bed," she said, referring to the gaokao, the grueling national college entrance exam. She drank a little hot water and rested for 15 minutes before starting to run again.

"Cutting the RRR is necessary, as the borrowing costs in the interbank system have risen recently and the small and medium-sized banks still need cheaper funds to increase credit for the real economy," said Lou Feipeng, a senior economist at Postal Savings Bank of China.

"Expectations for future activity also fell to their lowest level since late 2014, as most firms do not expect energy prices to return to profitable levels this year," said Chad Wilkerson, economist with the Federal Reserve Bank of Kansas City.