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China set the tone of its monetary policy in 2017 as prudent and neutral, keeping appropriate liquidity levels but avoiding excessive liquidity injections.

China is working to build a globally competitive automotive industry, with smart cars as one of its priorities, according to an industry guideline released earlier this year.

China views illness-caused poverty a great challenge in the country's battle against poverty and issued guidelines on carrying out medical insurance programs in impoverished rural areas in 2016.

China started off by learning from the best, joining WIPO in 1980. To date, China has joined almost every major international IP convention there is. A legal framework has been built around IP in China over the past decades, including the Trademark Law, Patent Law, Copyright Law and Regulations on the Protection of New Varieties of Plants. They are regularly updated to reflect the latest changes and developments.

China remains committed to the principles of no-conflict and no-confrontation, mutual respect and win-win cooperation, and the country stands ready to work with the US to advance China-US relations based on coordination, cooperation and stability, said the vice foreign minister.