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China's oil giants, especially those with major business in upstream sectors including China National Petroleum Corp and China National Offshore Oil Corp, will suffer if oil prices remain at depressed levels throughout the year, said an industry expert.

China's foreign exchange regulator will likely focus on keeping the country's currency stable this year while allowing greater flexibility in the exchange rate, economists said on Monday, with some believing there may still be potential for the yuan's further appreciation against the US dollar.

China's industrial profit grew 22 percent in the first half of the year, much faster than the 8.5 percent increase in 2016, according to the National Bureau of Statistics.

China's official statistics show, however, Chinese investors made .27 billion of non-financial outbound direct investment in nearly 4,000 overseas enterprises in 152 countries and regions from January to July. It marked a 14.1 percent increase from the same period a year ago.

China's fresh milk market, which enjoys a steady 3 to 5 percent annual growth, is led by Shanghai-headquartered Bright Food Group, Beijing-based New Hope Group and Sanyuan Foods.