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China has also set goals to improve the business environment and deepen economic cooperation in more fields with countries and regions related to the Belt and Road Initiative, as well as to accelerate the pace of sealing more bilateral and multilateral free trade deals with economies such as Japan, South Korea, the ASEAN and the European Union, according to the Ministry of Commerce.

China has been the world's second-largest country in service trade for five consecutive years, with the total value reaching 5.24 trillion yuan in 2018, up 11.5 percent year-on-year, data from the ministry show.

China has made steady progress in deleveraging, and the country's leverage ratio has been gradually lowered.

China has acted in restraint to avoid confrontation with the United States, with measures to increase imports and widen market access, but to no avail.

China has ample alternatives. Chinese airlines can buy planes from Airbus. Brazil and Argentina will be happy to supply soybeans.