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China is BMW's largest market globally. Last year, it delivered a total of 723,680 BMW and MINI vehicles, up 13.1 percent year-on-year, recording the best-ever sales result since entering the market in 1994.

China is the fifth largest source of tourists to the US, with almost 1.5 million Chinese visiting California in 2016. In 2013, California became the first state to establish trade promotion agreements with individual Chinese provinces.

China has thousands of SOEs, but many have stagnated due to a lack of competition. The government is trying to improve their performance through reform, moving toward mixed ownership and market-oriented management to improve efficiency.

China is the world's largest importer of natural rubber, consuming about .6 billion worth of natural rubber last year, accounting for about 25 percent of the world's total, according to trade information website worldstopexports.com.

China has pulled about 800 million people out of dire poverty in the past four decades, and it has not gone unnoticed. Bekele Debele, the World Bank's acting country director for China, Mongolia and Korea, said it is the biggest and fastest poverty reduction achievement in human history.