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China's ongoing supply-side structural reform has led to reduced production capacities and rising prices in steel, nonferrous metals and some other products. Prices of commodities futures, such as steel rebar, started to rise in June through early this month, contributing to corporate profits.

China's negotiating with participating countries for more bilateral free-trade agreements will help address the current downturn of the globalization process, the professor added.

China's music market will not only become next global music hub but also an internationalized music market with various advantages such as content originalization, ecologicalization and business model innovation, Dworkin said.

China's internet search giant Baidu Inc announced Friday that Lu Qi will no longer serve as chief operating officer of the company starting in July 2018 due to personal and family reasons, but he will continue to serve as vice-chairman of the board of directors.

China's foreign exchange reserves expanded to .11 trillion at the end of June, up 0.3 percent from the end of May, according to the State Administration of Foreign Exchange.