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China is Covestro's biggest single market and Shanghai is home to its largest plant while housing its Asia-Pacific innovation center, said Lei.

China has turned to information technology and international cooperation to meet the increasing demand for arbitration in legal disputes, which is partly driven by the country's continued opening-up, according to the Ministry of Justice.

China is scheduled to release a set of economic data for August in the coming weeks including trade, inflation and credit data.

China is seeing stronger trade links with Belt and Road countries while its outbound investment and project construction have accelerated along the network, said a Standard Chartered global research report.

China has taken multi-pronged measures to protect the economy from succumbing to epidemic shocks. Building on earlier efforts to advance the resumption of production, the country has ramped up tax and fee reductions and provided firms with low-cost loans to help them tide over difficulties.