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China's steel exports to the US plunged by 57 percent from 2.21 million tons in 2015 to 0.95 million tons in 2016, because four trade remedies, including anti-dumping (AD) and countervailing duty (CVD) imposed by Obama administration went into effect in 2016. At the end of 2016, 20 US trade remedies against steel mill imports from China were in effect.

China’s credit rating agency Dagong downgraded sovereign credit rating of the United States by one notch from A- to BBB+ on Tuesday, as debt repayment capacity is expected to continue to deteriorate with its massive tax cuts plan.

China's producer price inflation eased in April thanks to falling international commodity prices, while consumer price inflation rose moderately in the same month, according to data released on Wednesday by the National Bureau of Statistics.

China's smart appliance market is expected to grow at an average annual rate of 45.3 percent between 2017 and 2022, and is likely to have a value of 162.7 billion yuan (.6 billion) by 2022, according to internet statistics company Statista.

China's stock market withstood another round of overseas sell-offs on Thursday, pointing to growing market resilience against the current global financial turmoil, analysts said.