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China's total imports will likely exceed trillion this year to set a new record, according to an official with the Ministry of Commerce.

China, in the meantime, made notable breakthroughs in developing technologies such as 5G, computer chips, nuclear power, high-speed trains, high-end vessels and aircraft manufacturing. It also deployed more resources to promote the Belt and Road Initiative and the Asian Infrastructure Investment Bank to build a trade, investment and infrastructure network connecting Asia with more regions in the world.

China's rising consumer inflation, driven by higher food prices, will not obstruct the monetary authority's efforts to counter economic sluggishness, as companies still need credit and adaptive liquidity to sustain investment, analysts said.

China's recovery from the economic blow of the COVID-19 crisis presents a potential watershed moment for sustainable investing in the country.

China's second-largest telecom equipment maker, ZTE Corp, said it is "fully prepared" for the large-scale deployment of the 5G network as the company races to take a leading position in driving the world into a new era.