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China in April said it aims to raise foreign ownership limits in securities, fund management and futures firms to 51 percent. The announcement came as the US and other trading partners complain of unfair limits on competition.

China is experiencing rapid growth, but different players dominate. (Canalys Image)

China is California's largest trading partner, its third-largest export destination for goods, and the fourth-largest export destination for services, Zhang said. In addition, China was the 32nd District's third-largest export market for goods in 2016 and its fourth-largest export market for services in 2015.

China is endeavoring to build a "Digital China". Many innovations have been made in areas such as Internet Plus and artificial intelligence. New technologies and new forms and models of business like sharing economy, online retail, and mobile payment continue to emerge in China, bringing profound changes to the lives of the Chinese people. China seeks deeper cooperation on digital economy with other members of the Asia-Pacific so as to expand convergence of interests and create more growth areas, thus adding strong and fresh impetus to the Asia-Pacific economy.

China is looking forward to working together with the European Union and Germany, for further development of the Sino-European and Sino-German relations, Wan said.