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China's proposed tariffs on US soybean and pork will have limited impact on domestic consumer inflation measured by the consumer price index, he added. Estimates show that if domestic soybean prices rose by 25 percent, China's CPI will still be kept at an average of 2.4 percent, well below the control target of 3 percent, for this year. Considering the fact that China can import such products from other countries, the real effect will be even smaller, Wang said.

China's southern city of Guangzhou was on June 28 placed on the global gastronomy map with the unveiling of the first edition of its own Michelin guide.

China's unicorns come from 22 industries, with e-commerce, smart logistics, new entertainment, artificial intelligence, and new energy and smart vehicles the top five sectors.

China's ratio of R&D expenditures to business revenues was 2.27 percent during that period, which is quite high but still lower than many other major economies, he said in an interview. "It means there's still much room for China to further increase its R&D expenditures."

China's steel industry is currently undergoing restructuring and upgrades in terms of regional supply and demand, product structure, as well as steel manufacturing techniques, said Yu Hong, general manager of Four Rivers Investment Management Co Ltd.