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China is the world's second largest oil consumer after the United States. Demand is likely to soar in the future as the country is thirsty for the source of energy to fuel its economic boom.

China has seen the number of newly-registered companies surge as firms bet big on the country's pent-up consumption demand and strong economic recovery from the COVID-19 outbreak.

China is one of just a handful of countries whose every action has worldwide implications. What that means is that China has a key voice in every conversation about how countries should cooperate to face challenges, to ensure the world continues to progress. China has the capacity to be a consistent and stable force for peaceful and sustainable global development according to a shared and consistent understanding of international law.

China has seen booming industrial application of IoT, said the report. Large-scale IoT testing has gradually been conducted in fields such as transportation, logistics, environmental protection, healthcare, security and electricity. Smart cities, the industrial IoT, internet of vehicles and the smart home have emerged as the major four market segments.

China has vowed that it will not play defense in the escalating trade war, ratcheting up tensions as a new list of items subject to tariffs, including technology and consumer goods was anticipated from Washington.