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"China's economy will steadily regain momentum over the next few quarters, ending 2021 around 6.7 percent, above the level in the fourth quarter of 2019," said Madhavi Bokil, an analyst with the Moody's Investors Service. "This year, we forecast that China will be the only G20 country to post (positive) growth."

"Competition in the retail market has been intensive and independent oil companies are also expanding their retail networks to compete with the State-owned ones," she said, adding that Sinopec's retail volume fell 3.47 percent year-on-year in the first quarter.

"Chinese companies, led by Huawei and BOE Technology, gained ground. In fact, China was the only country in the top 10 to actually show an increase in US patent activity; all other countries, including the US, saw declines," said Larry Cady, a senior analyst at IFI Claims Patent Services, in an article posted on the technology blog Venture-Beat.

"China will continue to abide by WTO rules. We hope the United States respects and obeys WTO rules with practical actions, and safeguards the multilateral trading system with the WTO as its core," Hua said.

"Currently, financial risks are one of the most prominent and major type of risks in China … The country is still facing relatively huge pressure for a possible rebound in nonperforming loans, and the inventory of shadow banking activities is still fairly large, with frequent occurrence of law and regulatory violations," said Xiao Yuanqi, chief of the prudential regulation bureau of the China Banking Regulatory Commission, at a news conference on Friday.