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China's digital experience economy market has been expanding, with the scale of information consumption constantly growing, Sun Fuquan, a researcher at the Beijing-based academy, said.

China's focus on new infrastructure projects to offset the economic impact of COVID-19 will also inject new momentum into sustainable growth of the steel industry, Chen said, citing statistics from the Ministry of Finance that local governments in China had issued new bonds worth 1.02 trillion yuan (0 billion) for special infrastructure projects as of March 20.

China's measures will not only lift the role of the national economy as the world factory and market, but also ease pressure on multinationals and add stability to the global supply chain, as well as boost the global economy, he said. The ministry said local governments have been working to support work resumption in key industries. Nearly all key foreign companies in the traditional export-oriented provinces and cites such as Shanghai, Zhejiang, Jiangsu and Guangdong have resumed operation.

China's consumer price index, a main gauge of inflation, rose 2.1 percent year-on-year in July, faster than the 1.9-percent rate recorded in June, according to the National Bureau of Statistics.

China's economy grew at a faster than expected 6.9 percent pace in the first half.