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China's manufacturing sector is still in the medium stage of industrial modernization, with big differences in automation and digital capabilities among different sectors, regions and companies, leading to different market demands, according to a report released by CDF organizer, the Development Research Center of the State Council and Bosch Group.

China's monetary authorities may moderately ease their overall prudent policy stance in the second half of the year, helping to anchor economic growth and the stock market, analysts said on Thursday.

China's economy has become more dynamic and resilient over the past few years, fostered by supply-side structural reform. We have seen major changes in the consumption and manufacturing sectors with evolving patterns and steady expansion. For instance, more than 400 million of China's population are in middle-income groups, seeking a broader range of dietary options and showing a growing concern for the quality and safety of food, domestic appliances and daily items.

China's goal to reduce about 2 trillion yuan in tax and fee income in 2019 has been labeled by observers as the central government's most aggressive reduction plan ever. It also is a primary reason that the government has reduced projections for income growth. Taxes usually account for more than 80 percent of government revenue.

China's methanol output totaled 43.14 million tons in the January- November period last year, MIIT data showed.