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China imported 280,000 cars valued at billion from the US last year, accounting for more than a fifth of China's total car imports, according to statistics from the China Passenger Car Association.

China is cutting overcapacity, reducing inventory, deleveraging, lowering costs and strengthening weak links as part of supply-side structural reform that began in 2015.

China has put a ceiling on the amount of local government debt and tied the quota that each local government can receive with their financial strength, current debt risks, and management efficiencies.

China hopes the US will remove its trade restrictions, provide equitable treatment for Chinese products and investment and promote economic complement-aries, Gao said.

China is always devoted to achieving denuclearization of the Korean Peninsula, maintaining peace and stability on the Peninsula and promoting dialogue and consultation, Geng said.