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China's homegrown and leading cosmetics group, Shanghai Jahwa United Co Ltd, posted a quarterly growth rate that is almost twice the industry average, according to the company's statement released on Wednesday.

China's economy may grow slightly slower in the second half of the year but will remain robust supported by improved external demand and domestic private investment, a leading economist at Morgan Stanley said on Monday.

China's gaming industry is suffering its slowest revenue growth in a decade, as local regulators had tightened their grip on a market. Experts think the market is reaching a saturation point.

China's one-year loan prime rate (LPR), a market-based benchmark lending rate, came in at 4.05 percent Friday, unchanged from the previous monthly adjustment, as the country's flexible and prudent monetary policy creates enough leeway for lenders to better support an economy hit by the novel coronavirus disease (COVID-19) outbreak.

China's middle class is expanding at an unprecedented pace.