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China's engagement with the multilaterals has shown that the country wants to play a part in global governance, and it also wants to draw inspiration from different multilateral organizations, Chakrabarti said.

China's leading supercomputer manufacturer Dawning Information Industry Co Ltd, also known as Sugon, is ramping up efforts to build a national-level advanced computing innovation center in Tianjin, considering the burgeoning demand for computing power. The company established its base in Tianjin in 2006.

China's foreign trade declined 3.2 percent year-on-year to 14.24 trillion yuan in the first half of 2020, shrinking 1.7 percentage points compared to the yearly decrease of the first five months this year, according to data released by the General Administration of Customs.

China's economic rebound has been a bright spot for some US multinational companies that have seen domestic revenue fall amid the slowdown caused by the COVID-19 pandemic.

China's manufacturing sector resumed its expansion in June, according to a key private survey, which analysts say tends to confirm stabilization in the world's second-largest economy despite some domestic financial tightening and unstable markets abroad.