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China cannot be blamed for the United States' deficit in bilateral trade as complicated US trade structures are the real reason, Chinese officials said on Friday.

China became an aged society in 1999 when people age 60 and older crossed the international threshold of 10 percent of its population. The population that falls in the age group has ballooned over the decades that followed, reaching 253 million by end of 2019, or 18.1 percent of the total population, according to the National Bureau of Statistics.

China has around 90 million private businesses, which are key to boosting development and increasing jobs, Li said. According to the State Administration for Market Regulation, China has 110 million market entities, including 34.74 million enterprises. Last year, 6.7 million new enterprises were registered.

China has been upgrading the coal sector. Coal mines with an annual output of less than 300,000 tons would be closed, while large- and medium-sized modern coal mines would be approved for operation in an orderly manner, Li said.

China has a large and growing pool of TAVR patients as the population ages and life expectancy increases. This patient group was previously shut out from the surgical room due to high risk of complications and damage during the operation and now Venus Medtech is offering a solution for millions of affected families.