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China encourages Iran to continue to fulfill the commitments it has made, "while the legitimate rights of all countries to normal economic and trade cooperation with Iran should also be respected", Wang said.

China has been undergoing an economic transformation and updating its technology over recent decades. Huang said that had encouraged a large number of multinational companies to set up branches or facilities in the country, bringing more business opportunities for ANZ.

China complies with UN resolution, halts DPRK coal, iron, lead, seafood

China continues to be a global powerhouse for intellectual property protection by leading the world's IP indicators in most areas, thanks to the country's long-term economic development.

China has been the largest market for GM for the past six years and surpassed the United States as the largest market for its premium brand Cadillac last year.