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And experts say competition between the companies should bring benefits to customers.

Analysts said the acceleration in profits in July was mainly due to government measures to boost resumption of work and production across the whole industrial chain at a faster pace, as well as a rebound in production and sales. They expected the rising demand will continue to boost industrial profit growth in the next few months.

Analysts said that the complementary role of imported coal was likely to be significantly weakened as the amount of imported coal was approaching its maximum limit. In addition, in the main coal-producing areas, prices of some coal varieties increased remarkably, supporting coal prices at ports.

An upsurge in online exhibitions and livestreaming has made cultural and creative products more popular.

Analysts said that by prioritizing quality, China is set to deepen structural reforms, promote the job market, raise people's incomes and enhance environmental protection to try to make growth more sustainable.