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China has taken a lead in many areas of financial technologies, such as mobile payments and e-commerce, Paul Schulte, head of an institute that focuses on research of financial institutions and technology, told the Vision China event on Tuesday.

China is also the fifth largest goods trade partner of Ireland both in terms of exports and imports, according to the CSO. In 2019, Ireland's goods exports to and imports from China were valued at 8.93 billion euros and 5.25 billion euros respectively.

China is the world's largest consumer market, with 400 million middle-income people and a large number of rural residents with strong purchasing power, who are increasingly pursuing better life and services, said Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges.

China has recently vowed to establish a "dual circulation" development pattern, in which domestic and foreign markets complement and reinforce each another, with the domestic market as the mainstay, aiming to build up resilience with better domestic development and wider opening up against headwinds in the external environment. The country's enormous market is pivotal to this development pattern, with the booming "holiday economy" being a manifestation of the strategy.

China is the US’ largest export market outside North America. In 2016, the US had a trade surplus in agricultural products of .4 billion, according to a research report release by the Ministry of Commerce in May 2017.