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China's financial openness will continue to facilitate the renminbi's market function. China has made tremendous efforts to relax restrictions on capital account transactions in the past. The most recent moves include eliminating quota ceilings for QFIIs (qualified foreign institutional investors) and QDIIs (qualified domestic institutional investors) and opening ownership for foreigners.

China's imports of agricultural goods declined by 4.5 percent to 1.6 billion in 2016, according to official statistics, and its annual trade deficit declined by 16.5 percent to .6 billion. That year, the country was 84.2 percent self-sufficient with grain, 6 percentage points higher than in 2015.

China's new tariff cuts covering a wide range of items from aircraft engines to sunglasses and whisky, which became effective on Jan 1, will help both global and home companies save operating costs and maintain robust growth, said experts and business executives.

China's economic transformation will continue to drive domestic demand and market expansion. For the United States, China is a great investment market which is still expanding, Wang said.

China's national observatory Wednesday continued a yellow alert for snowstorms in the central regions Wednesday and Thursday.