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China's fossil fuel consumption is likely to peak in 2020, and will decline steadily afterward, the report said. It predicted the use of coal in electricity generation and industrial sectors will continue to decrease, while rapidly increasing electricity applications in transportation and industrial sectors will also reduce the country's reliance on oil and natural gas, the report said.

China's economic data in July, such as retail sales and fixed-asset investment, weakened compared with June, while its consumer price index rose to 2.1 percent in July, up from 1.9 percent in June, according to data by the National Bureau of Statistics (NBS). Recent rises in food prices in many parts of the country have triggered concerns that consumer inflation may strengthen further in August. The NBS is scheduled to release CPI data next Monday.

China's commitment to integrating Africa into the Belt and Road Initiative will significantly strengthen sustainable trade and investment relations between the continent and China, a senior South African diplomat said.

China's imports of bulk commodities including iron ore, crude oil and coal, as well as essential agricultural products such as meat, grew rapidly in the first quarter of this year, the General Administration of Customs said on Tuesday.

China's economic and market fundamentals, as well as policies－including proactive fiscal policy and prudent monetary policy this year, will help support a stable foreign exchange market, Wang said.