The benchmark Shanghai composite index (SCI) slumped 120.70 points, or 5.03 percent, finishing the week at 2,276.67 points. The Shenzhen component index slid 7.38 percent, closing at 7,413.55 points. 

"Market pessimism is mainly due to concerns of the slowing domestic economy," Mao Nan, an analyst at Oriental Securities, told Interfax.

"In the short term, the market may continue its downtrend. However, the government can still stimulate the economy with measures including tax cuts and increased investment, which could lift market outlook in the long term," Mao said. 

Energy shares were broadly lower in the week after international crude oil prices slumped to a five-month low of $105 a barrel this week amid concerns of slowing global fuel demand.

PetroChina, Asia's top oil company, dropped 4.65 percent to close the week at RMB 12.50 ($1.83). 

Its major rival China Petroleum and Chemical Corp. (Sinopec) eased 1.47 percent to RMB 10.07 ($1.47).

China Shenhua Energy, the country's largest coal supplier, tumbled over the week by 9.63 percent to RMB 25.34 ($3.70). 

Datong Coal Industry, China's second-largest coal company by capacity, crashed 13.41 percent to RMB 14.33 ($2.10).

Power shares were mixed this week, with many posting a mild rebound after heavy plunges in previous few weeks. 

Huaneng Power International, the largest listed power generator in China, climbed 1.49 percent to RMB 6.15 ($0.90).

State-owned Datang International Power Generation advanced 0.84 percent to RMB 7.24 ($1.06) 

Minjiang Hydropower rose 3.51 percent to RMB 3.83 ($0.56).

On the downside, Heilongjiang-based Huadian Power International softened 2.12 percent to RMB 3.69 ($0.54). 

Shares of pharmaceutical companies experienced a broad decline this week, in line with the indices. 

Shanghai Pharmaceutical eased 2.76 percent to close the week at RMB 6 ($0.88).  

North China Pharmaceutical, the largest domestic medicine producer, sank by a weekly 4.89 percent to RMB 5.25 ($0.77). 

Zhejiang Hisun Pharmaceutical, one of the country's largest active pharmaceutical ingredients producers, fell by 7.54 percent to RMB 12.01 ($1.76).  

Chongqing-based Taiji Group eased 2.41 percent to RMB 5.26 ($0.77). 

Shanghai Fosun Pharmaceutical (Group) softened 5.11 percent to end at RMB 9.65 ($1.41).  

Guangzhou Pharmaceutical, the country's largest traditional Chinese medicine producer, plunged 13.25 percent to RMB 6.94 ($1.01). 

Zhejiang Medicine, the largest domestic vitamin E producer, plummeted by 4.46 percent to RMB 14.58 ($2.13).