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Among them, 111 SOEs, mainly from the non-ferrous metal, chemical, coal and transportation sectors, saw net profit growth of more than 100 percent. Meanwhile, 26 firms suffered losses, down from 40 in 2016.

Amid growing concerns about the global economic outlook, geopolitical risks and the sporadic resurgence of the novel coronavirus epidemic, prices of the yellow metal have been rising as safe-haven buying continued to spur gold to greater heights. Gold prices hit ,944.68 per ounce on July 27, breaking the previous record of ,921.15 seen in September 2011. Prices have risen by about 25 percent so far this year, according to data from Shanghai-based market tracker Wind Info.

Amid the most crucial period of the year, filmmakers cutting across genres are fancying their chances, aware that the digital-age Chinese filmgoers are an evolved and discerning lot, who would shower their attention, praise and money on quality productions.

Americans for Prosperity President Tim Phillips added that there are better ways to negotiate trade deals than by "punishing American consumers and businesses with higher costs."

Amid intense competing for attention, some streamers and video providers have resorted to provoking content while service operators have indulged them due to clicks and advertisements.