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China is already the world's largest energy consumer, producer and net importer. Its total oil imports in the first six months of this year reached 212 million tons, according to the General Administration of Customs.

China is the world's largest semiconductor market. It spends more on importing chips than it does on crude oil imports. In 2018, its chip imports exceeded 2 billion, up from 0 billion in 2017, data from the Ministry of Industry and Information Technology show.

China is ratcheting up efforts to accelerate the commercialization of superfast 5G technology as it has built 198,000 5G stations and secured more than 50 million 5G mobile subscribers nationwide as of the end of March, the nation's top industry regulator said.

China has taken solid steps to push for institutional opening up including implementing the pre-establishment national treatment, shortening the negative list for foreign investment, and protecting intellectual property rights.

China is Bell's second-largest market in the Asia-Pacific region after Australia.