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China is the second-largest market for pharmaceutical products in the world. Annual revenues of the pharmaceutical industry in China exceed 2.5 trillion yuan (8.6 billion), and annual exports of pharmaceutical products exceed 13.5 billion yuan, Wu said.

China is also prepared to boost imports from other parts of the world, he added.

China hopes that the US government can give equal treatment to Chinese investors in the national security review of mergers and acquisitions, and that the Chinese SOEs can receive fair treatment, the report added.

China imported large amounts of wheat from Argentina in the 1960s. "That was the beginning of our relationship," Guelar said.

China implemented a proactive fiscal policy, with tax cuts and rate reductions as the most important measures since 2018. Specific policies included deepening the reform of value-added tax (VAT); adding special additional deductions of personal income tax; further expanding the scope of small enterprises that enjoy preferential corporate income tax; and policies to promote the development of innovative and high-tech startups.