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China's economy expanded 6.9 percent in the first quarter of the year, up from the 6.8-percent growth in the previous quarter and 6.7 percent for 2016. The government has targeted annual growth of around 6.5 percent for 2017.

China's overall leverage rose to 250.3 percent last year, up by only 2.7 percentage points from a year ago, according to a new report released by the PBOC Friday. The slowdown came after expansion of supply-side structural reform, a firmer economy and the effective implementation of a prudent, neutral monetary policy, the central bank said.

China's e-commerce giant Alibaba Group Holding Ltd is considering raising billion via a second listing in Hong Kong to diversify its funding channels and boost liquidity, according to a Bloomberg report citing sources.

China's cruise industry has experienced rapid development over the past decade. According to China Communications and Transportation Association (CCTA), 15 cruise ports in China received 5,807 passenger liners with 18.1 million outbound and inbound tourists in 2017.

China's exports remained resilient and increased by 12.5 percent year-on-year in dollar terms, Lian told Chinese media. In August, exports are expected to continue to grow at a fast pace, he said.