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China has been strengthening measures since August to channel more funds into the real economy, especially to increase lending to small and private companies.

China has been ratcheting up efforts to revamp the telecom sector, which has long been dominated by State-owned players. Last year, China Unicom pressed ahead with its 78 billion yuan mixed-ownership reform by attracting Alibaba, Tencent, Baidu and other companies as investors.

China began importing solid waste as a source of raw materials in the 1980s and for years has been the world's largest importer, despite its weak capacity in garbage disposal. Some companies have profited by illegally bringing foreign waste into the country, posing a threat to the environment and public health.

China has built nearly 700,000 5G base stations, and the number of terminal devices connected to the network exceeds 180 million, MIIT data shows.

China has a large and diversified market and Sino-US trade will make new progress on the basis of mutual benefit after the signing of the agreement, which will help the two countries and the whole world, Zou Zhiwu, deputy head of the General Administration of Customs, said at a press conference.