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Commenting on Tuesday's data, Asian investment bank Nomura said China's CPI inflation is likely to stay at a subdued 2 percent in the second half of the year, while producer price index (PPI) inflation will fall on a high base in the same period last year, a stable oil price and weakening end-demand.

Companies upbeat on 2-year-old new area as goals in place for development

Companies already are pursuing high-quality growth that is driven by innovation. Haier Group, China's largest home appliances maker, for instance, has built an industrial internet system, or a network of machines with internet-connected sensors and industrial apps, which collect and analyze data from consumers, suppliers and factories. The system, COSMOPlat, is designed to allow companies to customize products at speed and scale while boosting productivity and cutting costs.

Congrats to the @BestBuy team on their new Alexa skill. Customers can now find and shop Best Buy deals on Alexa. Nice! pic.twitter.com/wWuvIkvgD1

Colleen Aubrey — Vice President, Performance Advertising