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China imported 539 million tons of iron ore in the first half, up 9.3 percent year-on-year, while the country's iron ore production was 508 million tons in the first five months, up 10.4 percent, according to data from the Lange Steel Cloud Platform. Low costs and high prices are expected to boost companies' profits.

China is a highly competitive economy. In the past, some sectors have been a "wild west" where Chinese firms did not hesitate to copy each other or foreigners. But, as China has developed its own technology and moved up the value chain, protecting intellectual property rights has become a high priority for the government.

China is becoming the dominant long-term player in the gold industry, and the country's growing consumption of gold is set to continue, the head of the World Gold Council said on Thursday.

China has promised to boost imports, announcing plans to purchase more than trillion of goods and services in the next five years. The first China International Import Expo will be held in Shanghai in November, which is expected to bring together thousands of enterprises from more than 100 countries.

China is the host of the world's largest public charging network for electric vehicles, with a total of more than 440,000 charging poles in the country, including 213,903 public charging poles and 231,820 private charging poles, by the end of 2017, according to the China Electric Car Charging Technology and Industry Alliance.