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China currently is South Korea's largest trading partner, export market and largest source of imports by volume, and South Korea is China's third-largest trading partner. Since the bilateral FTA became effective in December 2015, the two sides have cut tariffs four times and about 50 percent of goods they trade in now enjoy zero tariffs, data from the Ministry of Commerce show.

China has also decided to build Beijing, the country's capital, into a free trade pilot zone with an emphasis on digital economy, technological innovation and liberalization of the services sector.

China firmly opposes the 2019 Country Reports on Human Rights Practices issued by the United States Department of State, Foreign Ministry spokesman Geng Shuang said on Thursday.

China has lifted 700 million people out of poverty in the past 30 years. In the coming three years, another 40 million will be added to the list, meaning 20 people are lifted out of poverty each minute.

China formally joined the IEC in 1957 and became a permanent member in 2011.