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China's commercial banks had net sales of .9 billion in foreign exchange in the first quarter, down from 4.8 billion in net sales in the first quarter of 2016, Wang said.

China's digital trade is growing rapidly. According to the Ministry of Commerce, the volume of the nation's import and export digital trade surged 6.7 percent to 3.6 billion last year, accounting for 26 percent of the country's total import and export service trade volume.

China's industrial production is currently stable, with room for further boosting domestic demand, said Liu Feng, chief economist with China Galaxy Securities. "The inflation is mild and consumption is stable. With further expanding domestic demand, the country can effectively offset the trade war impact on imports and exports," he added.

China's oil and gas exploration sector has been long dominated by State-owned enterprises, including China National Petroleum Corp, the country's biggest oil and gas company, and China Petroleum and Chemical Corp, the world's largest refiner by volume.

China's largest internet security company 360 Security Technology Inc unveiled two new smartphones on Tuesday as part of its efforts to offer more affordable phones in the country's cooling handset market.