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As a multinational company, we are delighted to help facilitate the upgrading of China's manufacturing industry and grasp the market opportunities generated by cooperation. The Belt and Road Initiative has also set a great example for international cooperation. This will strengthen the foundation for the long-term stable growth of the world's economy.

As a country that has benefited hugely from opening up, international trade and investments in the past 40 years, China is now a major champion of globalization. The value of China's foreign trade in 2017 rose 14.2 percent year-on-year to .34 trillion and will only continue to grow.

As a result, they invested a limited amount of capital in the legal entities they set up in China. Restricted by CAR requirements on their head offices, their legal entities in China often have limited capacity for asset expansion.

As a result of the more severe fires in recent years, in a 2019 study, Parks has found up to 15 percent of inter-mountain forests in the western United States are at risk of disappearing. In drier regions, like the deserts of the southwestern states, that number increases to 30 percent because fires tend to burn there under even more extreme weather.

As Trump's protectionism creates more chaos and uncertainties worldwide, more resilience and perseverance is badly needed for an open and fair trade system. In this regard, China and EU, which share substantially the same view on preserving multilateralism, globalization and free trade, have tremendous potential in the cooperation to tackle protectionism.