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China's CPI rose 2.1 percent year on year in July, compared with 1.9 percent for June, data from the NBS showed.

China's automobile products could enter the international market via the export program, absorbing excess capacity, Luo told the newspaper. Meanwhile, secondhand cars exports can reduce the number of domestic abandoned vehicles and help reduce the pressure from environmental protection.

China's central bank governor Yi Gang said during the 10th Lujiazui Forum in mid-June in Shanghai that the average lifespan of a Chinese SME is only about three years.

China's State-owned energy giants are ramping up raw material supplies that are key to produce protective products against the novel coronavirus, to help ease the shortage of medical supplies.

China will deepen international cooperation and put new emphasis on addressing technical shortcomings when fueling the development of the industrial internet, a frontier essential to the country's high-end manufacturing powerhouse, the top industry regulator said on Thursday.