Gao Xiangming, chairman of TISCO, said the company's R&D expenses account for about 5 percent of its annual sales revenue.

The composite index for coastal bulk freight edged down 1.6 percent week on week to 1,055.6, the SSE said.

China's two leading manufacturing purchasing managers' indices, or PMIs, were both in growth territory in May.

The European Union has transitioned its hot-rolled coil quota to a country-by-country and quarterly basis.

US gross domestic product (GDP) will not reach its pre-pandemic levels until well into 2022 following a sharp contraction this year, economists with major US banks said.

A widening gap between export and domestic prices fuelled the increases.

The China Tianjin Bulk Freight Index (TBI), an indicator of northern China's international bulk freight rates, stood at 541.09 points on Tuesday, up 0.05 percent compared with the previous working day.

"As one of the first national demonstration cities for 5G, Urumqi has provided a primary ecosystem for the commercialization of the network," Yasen said.