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China's growth over the last 40-plus years has been called an economic miracle, but there are logical explanations for the country's achievements.

China's current account surplus is less than 1.5 percent of the GDP, and the trade surplus of goods accounts for only about 3 percent of the GDP. The contribution of consumption has risen to 58.8 percent, and the proportion of added value of the service industry has risen to 51.6 percent, indicating that the Chinese economy has relied more on domestic demand, according to Lou.

China's industrial output exceeded 30 trillion yuan (.46 trillion) for the first time last year, with a notable rebound in industrial investment, which signals a rise in confidence toward the country's manufacturing sector, according to a top industry regulator.

China's largest private carmaker Geely sold 105,468 vehicles last month, up 2 percent from the same period last year. "We are confident on the sales performance in May and in the second half of the year, as we launch new models and resume deliveries that were affected by the coronavirus," said Geely President An Conghui.

China's gaming industry leader Tencent saw its online games revenue in the third quarter of 2017 grow by 48 percent to 26.8 billion yuan (.14 billion), which reflected contributions from smartphone games, including existing titles such as Honour of Kings, and new titles such as the China version of Contra Return and Legacy TLBB Mobile, according to the tech giant's website.