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China continues to be the main engine of global economic growth, he said, with its economic restructuring and derisking of the financial system making progress, and its opening-up continuing to broaden.

China formally adjusted its family planning policy from one-child policy to two-child policy in 2015. "Since then, we have found the Chinese households' demand for larger cars has been climbing," said Zhang Wengen, deputy chief economist of JAC.

China has invested more than billion in countries and regions involved in the Belt and Road Initiative since its inception in 2013, with commodity trade exceeding trillion, according to the country's top economic regulator.

China has been consistent in its opposition to the deployment of the THAAD system, but values the ROK's assurance not to add to the existing system, or participate in the US-led missile defense system, or develop a military alliance with Japan and the United States.

China currently contributes to 15 percent of the revenue of the privately owned company. With the completion of the infrastructure built in Alaska, it is expected that Trident's market share in China could at least be doubled.