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China's industrial output, an important economic indicator, expanded 5 percent year-on-year in May, down from the 5.4 percent in April, official data released on Friday showed.

China's foreign exchange policy will likely continue to focus on maintaining healthy two-way fluctuations and stabilizing market's confidence in the Chinese currency, Ding said.

China's novel coronavirus-related medical supply exports last month were worth 6.29 billion yuan (2.9 million), according to the General Administration of Customs.

China's economy is entering a new growth phrase where quality has become increasingly important for the country's consumers, Zhang noted.

China's new economic growth pattern will fuel its resilient recovery, but stronger international coordination is needed to support the global economy and avoid a severe recession this year, experts said.