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China's foreign trade rebounded sharply in June as recovery in the country gained traction aided by government stimulus which stoked demand for commodities while exports, fueled by medical goods, also rose.

China's first domestically produced passenger plane completes a high-speed taxi test for the first time in Shanghai, April 16, 2017. [Photo/Xinhua]

China's economic recovery continued at a solid pace in April and May, indicated by the strong industrial output and investment growth. The government has launched a strong policy stimulus to mitigate the economic damage of COVID-19, through measures such as increasing the fiscal deficit and boosting the issuance of government bonds.

China's economic reforms have not only lifted hundreds of millions of people out of poverty, but also made China the largest economy in the world in purchasing power parity terms, he added.

China's online payment industry has grown quickly in recent years amid growing availability of smartphones.