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China's nighttime consumption volume in the first quarter dropped by over 40 percent year-on-year due to the outbreak of COVID-19, according to China UMS data. The volume began to rebound in the second quarter after infections waned following national efforts to battle the epidemic.

China's economy will remain running within a reasonable range as the country's industrial restructuring and upgrade as well as opening-up continued apace. [Photo/VCG]

China's foreign exchange regulator said it would further free cross-border capital flows and push forward exchange rate reform this year, amid more balanced international payments driven by import expansion. [Photo/IC]

China's inbound tourism has revived since 2015 after experiencing a downturn in recent years, but its potential has yet to be fully realized due to a stringent visa policy, imperfect tourism facilities and a homogenization of tour packages being offered, according to a report released by the World Tourism Alliance and China Tourism Academy.

China's decision not to set a GDP growth target this year does not mean it has attached less importance to economic growth, but instead shows the authorities are paying greater attention to high-quality development, economists said after Premier Li Keqiang delivered the Government Work Report to the opening of the third session of the 13th National People's Congress on Friday.