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Analyzing the market's dynamics and consumer behavior both in China and in the West, the authors of the report concluded that in the future all online retailers will have to tackle almost the same set of issues, in order to keep profitable growth.

Analysts said that the Chinese smartphone market is expected to see a reshuffle as smartphone consumption slows down with almost all Chinese people owning at least one mobile phone.

An unnamed spokesperson for the Ministry of Commerce said in a statement on Tuesday that it is groundless to accuse China of engaging in unfair trade with the US as the latter "has benefitted tremendously" from the twoway trade, despite the trade deficit.

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.

Angelos Karakostas, deputy CEO of Piraeus Port Authority SA in Greece, said with almost 10 years of development, more and more local Greek people are fairly happy and optimistic about the port region's economic growth and its future prospects.