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China set a target of eradicating poverty in rural areas and eliminating regional poverty by 2020, and has helped over 13 million shake off poverty on a yearly basis. The country will reduce the poor population by 30 million over the next three years.

China on Wednesday announced a new, shortened version of the nationwide negative list for market access, a move that is expected to further improve the level of openness and build a transparent, efficient and fair business environment in the country, experts said.

China urged the US to understand the situation and correct its mistakes. Otherwise, it will have to bear all the consequences, Zheng said.

China sold 24.2 million vehicles in 2017 — four times the number just 10 years ago. The US, the next biggest market, had 17.3 million sales.

China will continue to open its financial sector, improve financial governance and make the sector more compatible with the economic development, it was decided.