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China has become the second-largest economy in the world after the United States. It overtook Japan in 2006. In 1949, China's GDP was less than 2 percent of the US GDP; in 2018, it was 64 percent.
China has been a major proponent of multilateral free trade, noted Jayant Menon, a leading economist of the Asian Development Bank (ABD), in a recent interview with Xinhua.
China has intensified its opening-up policy and the investment environment has become increasingly transparent and more aligned with international standards, while protection of IP rights has been strengthened, said Christian Hartel, board member of Wacker Chemie AG, a German chemical company.
China has also doubled the value of its technology market since 2015. China now has 169 national-level high-tech development zones and over 225,000 high-tech companies, up from 79,000 in 2015.
China has made full preparations and will take all possible counteractions if the United States announces a new tariff list on Chinese imports to the US worth 0 billion, a Ministry of Commerce spokesman said on Friday night.
