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China will further encourage cross-border e-commerce transactions by easing the annual cap on transborder online purchases and adding categories of imports to the duty-free list, the Ministry of Finance announced on Friday.

China's GDP expanded 3.2 percent year-on-year in the second quarter, reversing a contraction of 6.8 percent in the first quarter, according to the National Bureau of Statistics.

China's GDP growth reached a faster-than-expected 6.9 percent in the first half and looks set to meet its growth target of around 6.5 percent for this year. But some economists warned that growth could moderate in the second half due to the cooling of the real estate sector as a result of tightened government controls.

China's GDP growth may continue to dip in the first quarter and could start to stabilize and rebound from the second half of this year, it said.

China's capability of navigating through external and domestic headwinds reflects the time-tested wisdom of creating synergy between the socialist system and the market economy.