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China's western provinces and regions saw the fastest disposable income growth in the first half of this year, according to a report by 21st Century Business Herald.

China's soybean imports totaled 77.3 million tons in the first 10 months of the year, up by 15.2 percent from the same period last year, according to customs statistics. Of the total, 22 million tons, or 28 percent, were from the US.

China-Arab economic and trade cooperation has gained steam in recent years. Last year, bilateral trade volume reached 4.3 billion, jumping 28 percent year-on-year, according to the Ministry of Commerce.

China's standpoint is echoed by the EU, which noted that the US had not used this measure in almost 15 years.

China, which is its largest market, is now home to three Volvo car plants, one engine factory, one design center and one research and development facility, hiring more than 8,000 employees.