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China's mobile phone shipments declined by 12.3 percent in 2017, highlighting the mounting pressure on domestic smartphone players, which are looking to intensify their push to go global this year, analysts said on Thursday.

China's decision to hold the Canton Fair online under such unique circumstances is conducive to the safe and smooth operation of the global industrial and supply chains and stable foreign trade and investment, said Ren Hongbin, assistant minister of commerce. The fair will also safeguard the multilateral trading system and boost economic globalization, he said.

China's comprehensive supply chain, sound infrastructure and opening-up efforts are compelling more foreign companies to stay and invest long-term in the market, according to a seasoned executive from global professional service company Tricor Group.

China's outstanding foreign debts totaled .4 trillion at the end of March, up 1.2 percent from that at the end of 2016, the State Administration of Foreign Exchange (SAFE) said.

China's equity market is expected to improve in the second half of this year as investor sentiment is brightening in a largely stable macroeconomic environment, said analysts.