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China's well-developed high-speed railway and e-commerce networks are perfect infrastructure for consumers in lower-tier cities or towns to travel, work and check the product information via their smartphones. This information equivalence expands the luggage market beyond the major cities, Fan said.

China's three top oil and gas behemoths－PetroChina, Sinopec and China National Offshore Oil Corp－will publish their final first-half results in August.

China, Hungary and Serbia have also agreed to build a high-speed railway link between Budapest and Belgrade. They plan to start work on the project after the European Commission completes its approval procedure.

China's trade mix continued to optimize with the general trade growing both in volume and proportion in the January-July period. General trade grew 5.7 percent year-on-year and accounted for 59.8 percent of the total trade, 0.8 percentage points higher than the same period of last year.

China's trade performance has gotten off to a strong start this year, thanks to the stable recovery of the world economy, sustained demand in the domestic market and advancement of the Belt and Road Initiative, Hang pointed out.