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China's fleet size growth is also expected to outpace the global average with almost 20 percent of new aircraft demand coming from airlines based in the country, according to Boeing.

China's monetary policy is stepping out of the "easing era", said Wu, as market interest rates have been pushed up, the yuan's value is rising and the broad money supply growth drops to single digits.

China's international trade in services dropped by 14.7 percent on a yearly basis to 2.2 trillion yuan (6.27 billion) in the first six months of 2020 due to the COVID-19 epidemic and weak overseas demand.

China's leading maker of ball bearings now has a facility near the center of the US automotive industry.

China's factory activity expanded at a faster pace in June, beating expectations, Reuters reported Tuesday.