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China may appeal a ruling by the WTO that would break up a monopoly of two State-owned firms as the sole foreign audiovisuals importers.

China's fiscal revenues are growing rapidly due to the strong economic rebound, underpinning the government's efforts to further boost growth with a proactive fiscal policy.

China's imports of iron ore and crude oil reached record highs in July on the back of strong domestic demand, even as overall trade showed a steeper decline compared to the same period last year.

New yuan-denominated loans slowed to 355.9 billion yuan ($52.04 billion) in July, sharply down from 1.53 trillion yuan in June, China's central bank said Tuesday on its website. China Biz & Economic Statistics

On the eastern coast of China, the country's oil companies are building or already operating a series of liquefied natural gas (LNG) projects.