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China's ongoing supply-side structural reform has led to reduced production capacities and rising prices in steel, nonferrous metals and some other products. Prices of commodities futures, such as steel rebar, started to rise in June through early this month, contributing to corporate profits.

China's gross domestic product expanded 4.9 percent year-on-year in the third quarter of 2020, faster than the 3.2-percent growth seen in the second quarter, data from China's National Bureau of Statistics showed.

China's industrial sector made a strong start in the first quarter, with the industrial value-added output rising 6.8 percent year-on-year, the Ministry of Industry and Information Technology said on Wednesday.

China's meteorological authorities said on Tuesday that Yongxing county, where the incident took place, is expected to undergo continuous rainy weather in the coming days, with middle and heavy rain forecast between April 2 and 4, and precautions should be taken against geological disasters.

China's money supply growth retreated to its slowest pace in three months in March, constrained by tightening regulations aiming at curbing financial leveraging, according to central bank data released on Friday.