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China will play a key role in supporting global economic recovery this year, economists said, since the country's economic rebound is set to continue, which will help stabilize international supply chains.

China's big industrial firms are expected to see stable profit growth in coming months, after a double-digit year-on-year increase in cumulative profit from January to May laid a solid foundation for the year.

China will likely import more high-quality agricultural and industrial products, cutting-edge technologies, and luxury goods from these regions, said Wei Jianguo.

China will raise its defense budget by 8.1 percent in the 2018 fiscal year, more than last year's 7 percent, according to a budget report submitted to the top legislature on Monday.

China will impose anti-dumping duties on phenol imported from the United States, the European Union, South Korea, Japan and Thailand starting on Sept 6, the Ministry of Commerce said on Tuesday.