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And the automotive industry, a core industry in Europe, has made enormous profits and gained amazing opportunities in the Chinese market.

And the import-driven initiative isn't confined to Tmall Global. Imports will penetrate through its multiple online and offline commercial vehicles, from its iconic Hema Fresh Market to its newly acquired physical supermarket chain RT-Mart, Liu noted.

Analysts believe that market sentiment will continue to be supported by investors' expectation of more capital market reforms this year, which will help boost the quality of the listed companies, improve the efficiency of the Chinese stock market and make it more market-oriented.

Analysts said the uptick in CPI growth will not constrain the nation's commitment to expanding domestic demand, as the figure should soon decrease with the abatement of flood impacts and a high base last year.

An overwhelming focus on tougher sanctions and greater pressure on Pyongyang will "lead to losing a hard-won chance, possibly worsen the standoff among parties concerned and sabotage efforts in promoting peace and talks", Foreign Ministry spokesman Geng Shuang said on Friday.