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China is the largest crude oil importer in the world, and the listing of oil futures is the first step for China to influence the commodity's list prices.

China is also becoming a crucial tourism market for other cities in the United States. The Chicago Tourism Bureau said that the number of Chinese visitors last year grew by 22 percent. In Los Angeles, the city's tourism and convention board revealed that a record was set when nearly 800,000 tourists from the Chinese mainland visited the city in 2015. Visitor numbers have also been experiencing double-digit growth for six consecutive years.

China is the US' top destination for agricultural products. On soybeans alone, China imported 31 percent of US production in 2017 last year, equal to 60 percent of total US exports and nearly 1 in every 3 rows of harvested beans in the country, according to American Soybean Association statistics.

China has reduced the numbers who rely on solid fuels to about 416 million in 2016, down from 996 million in 1990.

China is open to reforms to the World Trade Organization, but stresses that such reforms should be beneficial to a healthier development of economic globalization and protecting free trade, Li said.