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Analysts said despite the substantial progress made by China on clean energy generation, it still looks tough to achieve the government's target of 5 percent or less curtailment rate by 2020.

Analysts said the inflation rate may continue at relatively high levels in the coming months, but will not rise strongly, in a way that could affect the country's stable monetary stance. The reading was the highest since February 2018, when it was 2.9 percent.

An unrealistic target would push local governments to take aggressive stimulus measures, especially by promoting infrastructure investment. That could lead to a "flood" of monetary easing, and capital-intensive infrastructure investments would not be helpful for reducing unemployment in the short run, he said.

And just last week, Amazon inked a deal with the Seattle Seahawks to provide the company’s hometown team with cloud, machine learning, and artificial intelligence services. The tech will help the Seahawks better track player performance in both games and practice and build predictive models for how to defend quarterbacks and other crucial parts of the game.

Analysts said that the inventory of China's power enterprises was still at a relatively high level and the coal procurement demand in the market was limited.