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China's service sector continued to expand in May, with the index of services production maintaining rapid growth of 8.1 percent year on year, while business activities expanded faster than April to reach 53.5 percent.

China's railway network witnessed a rebound of passengers during the May Day holiday as the novel coronavirus outbreak eased its grip nationwide, according to the country's top railway operator.

China's securities firms, which have been driving this quarter's A-share market bull run, have emerged as one of the biggest winners of the recent rally, and could see mergers and acquisitions as they are on the cusp of a new era.

China's position on the Meng Wanzhou case has been consistent and clear, Zhao said, adding that as evidenced by the disclosed facts and a multitude of questionable points, the political nature of the case will not be altered no matter how the Canadian Government endeavors to cover up the facts and mislead the public.

China's ratio of R&D expenditures to business revenues was 2.27 percent during that period, which is quite high but still lower than many other major economies, he said in an interview. "It means there's still much room for China to further increase its R&D expenditures."