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China's growth outlook remains strong and offers an opportunity to accelerate re-balancing and other reform efforts, the IMF said.

China's consumer price inflation remained mild in July while producer prices rose moderately, providing a boost to the industrial sector. Analysts said the country may keep its monetary policy stable given the expected stable price trends this year.

China's cotton output peaked in 2012 at 6.84 million tons, more than 2.2 times that of 1978, and continued to drop until a rebound in 2017.

China's fledgling cold chain logistics market is expected to reach 470 billion yuan (.5 billion) by 2020, with a compound annual growth rate surpassing 20 percent, according to the China Federation of Logistics and Purchasing.

China's first new foreign investment law in decades, which is one of the most important legislative items at this year's two sessions in Beijing, is likely to be passed later this week.