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China's consumer spending accelerated in May, constituting a major force to stabilize the economy, even as industrial output and investment growth weakened, the National Bureau of Statistics said on Friday.

China's local governments are also working to attract private capital into cash-strapped strategic emerging industries, which have found it difficult to get bank loans as many start-ups are yet to turn patents and intellectual property into profits.

China's mobile app market will continue to grow as the coronavirus epidemic prevention and control work gradually becomes part of people's daily life, he said.

China's leading power battery maker, Contemporary Amperex Technology Co Ltd, announced Thursday it has signed a volume production supply pricing agreement with US carmaker Tesla, according to China Securities Journal.

China's energy giants are stepping up efforts to boost natural gas supplies with winter approaching, as demand has seen sharp increases in North China during the colder months.