Traditional energy giants are increasingly veering toward an energy transition, marking a significant shift in operations by steadily increasing the percentage of clean energy installed capacity, said Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute.

中石化经济发展研究院情报与研究负责人罗佐贤表示，传统能源巨头正越来越多地转向能源转型，这标志着运营的重大转变，稳步提高清洁能源装机容量的比例。

"Due to rising labor costs and weak global market demand, China is veering towards growth reliant on domestic consumption, rather than exports," said Gao Peiyong, director of the Institute of Economics at the Chinese Academy of Social Sciences.

But the market has been slowly veering toward midrange to high-end bicycles in recent years, he said.

US-based McKinsey Global Institute said in a recent report that the global business environment is veering toward environmentally friendly building technologies as demand for greener lifestyles increases.

Growing awareness propelling SOEs, private companies to transform, upgradeChina's steel industry is veering toward smart manufacturing, thanks to the growing awareness about high-quality development at State-owned and private enterprises, said experts, adding that major breakthroughs could be expected in the sector in the next five to six years.

The moderation is an indication that the central bank is veering toward a normal monetary policy stance, said Wen Bin, chief analyst at China Minsheng Bank.