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China's industrial robot market is expected to reach 4.22 billion U.S. dollars in 2017, according to a report released at the ongoing 2017 World Robot Conference in Beijing.

China's economy must accelerate its upgrade, adjustment and innovation, Li said. "Today we are in a metabolic transition, and it's also the 'growing pain' of the Chinese economy."

China's cotton output peaked in 2012 at 6.84 million tons, more than 2.2 times that of 1978. It started to drop from 2013 due to relatively low profitability.

China's homegrown BeiDou Navigation Satellite System, which is currently used for weather and earthquake forecasts, land surveys and mapping as well as for navigation of taxis, buses and trucks, has found a new home in the bike-sharing sector as companies are using the technology for better operations and user experiences.

China's foreign trade rose 5.1 percent on a yearly basis in June, with exports up 4.3 percent and imports growing 6.2 percent, according to data released on Tuesday by the General Administration of Customs.