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China's ongoing supply-side structural reform is expected to generate sustainable and high-quality growth.

China's large number of skilled workers, low labor costs and preferential policies have helped boost its export sector. In 2006, the ratio of China's exports and imports to GDP reached a peak of 64 percent. By 2013, China had become the world's largest exporter and, through expanding foreign trade and related industries, the country's income levels have also risen significantly and people's living standards have greatly improved.

China's courier firms defended their recent move to raise prices of their delivery services for the upcoming Singles Day online shopping festival on Nov 11, which is also known as 11/11.

China's key free trade zones saw robust growth in foreign investment and trade during the first seven months of the year despite mounting downside pressures and a sluggish global economy due to the COVID-19 epidemic, the Ministry of Commerce said on Wednesday.

China's economic transformation will continue to drive domestic demand and market expansion. For the United States, China is a great investment market which is still expanding, Wang said.