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China reported faster-than-expected 6.9 percent GDP growth in the first half of the year, setting the country on course to comfortably meet its 2017 target of about 6.5 percent.

China made great advances in its innovation and the trend is expected to continue, said Cady.

China on Thursday took strong exception to recent reports in the United States that pointed fingers at its membership in the World Trade Organization and said such claims are not only false but also ignore the fact that the country is an open and market-oriented economy.

China saw 425 million domestic tourist visits in the first four days of the eight-day holiday that consists of the Golden Week and the Mid-Autumn Festival starting from Thursday, with total tourism revenue hitting 312 billion yuan (.8 billion). Consumption at tourist attractions nationwide during the holiday is expected to rebound to around 90 percent of that in the same period last year, according to an earlier report issued by the Meituan Research Institute.

China on Aug 3 threatened tariffs on billion in US goods — including 25 percent on liquefied natural gas — in response to a US threat to expand tariffs on Chinese exports.