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China last Monday reported a faster-than-expected GDP growth of 6.9 percent in the first half of the year. Thermal coal and electricity consumption rose by 8.2 percent and 6.3 percent respectively in the first six months year-on-year, the largest increase in recent years, data from the National Development and Reform Commission show.

China will become the world's top importer of natural gas in 2019, thanks to liquefied natural gas purchases, as its superpower economy develops and weans itself off coal-generated energy, according to the International Energy Agency, Reuters reported.

China just leapfrogged in adopting mobile phones and became the largest cashless economy in the world, said Bratcher.

China ranks fifth on a sub-list, Top 10 Countries with the Most Brands Selected, with 38 entries in 2018, up one from last year and two from 2016. Representative brands include State Grid, Tencent, Haier, ICBC and Wuliangye.

China promised a more proactive and effective fiscal policy in 2017, with the fiscal deficit set at 3 percent of GDP, or 2.4 trillion yuan, up 200 billion yuan from 2016.