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China's strong domestic demand will continue to be a major contributor to its crude steel consumption growth in the future, said Lange.

China's smartphone market will be dominated by major manufactures, and small and medium-sized brands may suffer further shrinking market share, the report said.

China's top legislature adopted the revised Securities Law last month which laid the legal basis for the country to deepen capital market reform, step up investor protection and substantially raise the costs companies will face for engaging in illegal activities.

China, the world's biggest energy user, needs underground gas storage facilities to address the imbalance created by weak consumption in summer and surging demand in winter, industry insiders said.

China's response to the pandemic can provide lessons for others, the article said.