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Analysts said the changes in spending and travel show that the country's updated consumption structure will help boost overall national economic growth.

And on the subject of the impact of COIVD-19 on China's growth, O'Neill, who chaired the UK government's Review on Antimicrobial Resistance, remains optimistic that a robust recovery in the second half of the year might off set the economic dent.

And service consumption kept scaling up. Gao cited data to showed that in the first half, revenue of catering industry was 1.95 trillion yuan, accelerating 9.9 percent from a year ago; box office raked in 32 billion yuan, up 17.8 percent.

And another mammoth deal went ahead earlier this month, when Hong Kong-based CK Asset Holdings bought British brewer Greene King, for an estimated .3 billion.

An unprecedented number of Chinese deals were delayed or abandoned last year as parties failed to obtain approval from the CFIUS, according to the Rhodium report.