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China's meat imports have seen a significant rise in the past year as the government lifted bans to fill a gap in domestic supply.

China's dairy industry is facing a critical imbalance between supply and demand for raw milk. The demand for dairy products is rising and expected to grow at a compounded annual growth rate of 1.5 percent through 2023, driving demand for raw milk with annual growth of nearly 5 percent. However, domestic cow stocks and raw milk production are decreasing significantly.

China's market regulator said on Friday that online discounter Pinduoduo should strengthen platform management and regulate business activities of third-party vendors to maintain fair competition.

China's growth target, expected to be released in the government work report during the two sessions, will continue to attract worldwide attention this year. The closely-watched figure had remained stable during the past five years as policy makers put stronger emphasis on quality and became more tolerable to GDP slowdown.

China's demand for gold bars and coins soared 30 percent year-on-year to 105.9 metric tons in the first quarter of this year, the fourth strongest quarter on record, according to a report released by the World Gold Council on Thursday.