Chinese Premier Li Keqiang said last week that China is in a phase in which it must rely on economic transformation and upgrading to maintain continuous and healthy development.

He said China must quicken its reform in the areas of administration, taxation, finance and pricing with the aim to let the market mechanism play a better role, make private investment more active and the market more vigorous.

More support will be channeled to the central and western part of the country, especially poverty-stricken areas, Li said, adding that the more affluent eastern part of China should strive for development at a higher level through economic transformation and upgrading.

NBS figures released on Monday also showed China's gross domestic product growth slowed to 7.6 percent in the first half, down from 7.7 percent in the first quarter.