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China's inexpensive goods have helped keep US inflation at relatively low levels and improved the well-being of its consumers. This has happened despite the fuss about the "huge trade deficit" with China, and concerns that the US stands to lose 0 billion every year, an argument used often to criticize China, Lin said.

China's outbound travel market will maintain double-digit growth this year, despite possible slowed growth in the second half of the year due to recent exchange rate fluctuations, according to a report released by China Tourism Academy and online travel agency Ctrip, thepaper.cn reported.

China's online bike-sharing platforms have increased rapidly, with more than 30 service providers nationwide, according to a spokesman of the Ministry of Transport. More than 10 million bikes have been put onto the market and more than 100 million people have registered to use the services.

China's leverage ratio narrowed by 1.1 percentage points in the first quarter of the year from the same period last year, while enterprises saw their debt gauge 2.4 percentage points lower and governments' down 0.7 percentage points.

China's industrial output contracted by 13.5 percent year-on-year in the January-February period. Retail sales dropped by 20.5 percent, while fixed-asset investment declined by 24.5 percent.