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China has the world's third largest bond market, which is growing rapidly and opening wider to overseas investors.

China is realizing the value of the IoT and transforming society through the deployment of smart home, smart industry and smart city solutions. By delivering real-time information, IoT products are making cities smarter and increasing convenience and efficiency in people's lives.

China is firmly against the move, which "denies the market economy principle that the United States has always advertised, and will not gain recognition or support from the international community," Foreign Ministry spokesman Geng Shuang said at Tuesday's news conference.

China is taking a leading role in building greener economies through the Belt and Road Initiative after rolling out environmentally friendly power projects at home.

China is ready to enhance its macroeconomic adjustment and better ensure key supplies to maintain normality in social and economic development, while advancing epidemic control with all-out efforts.