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China's semiconductor or chip industry will see explosive growth as the country accelerates plans to develop the market and cut heavy reliance on imports amid a trade standoff with the United States.

China's top market regulator and other authorities have issued a notice ordering related institutions to further clear unauthorized charges on enterprises, the latest move to guarantee that tax and fee cut measures are fully put into place.

China's rapidly expanding industry also benefits the US, as seven Hollywood movies earned more in China than they did in North America in 2017, says Rivkin.

China-Netherlands cooperation is a fine example of China-Europe cooperation. The world today is undergoing profound changes. Yet no matter how the situation may evolve, China will always see Europe as an important pole in the world and the EU as a comprehensive strategic partner. China hopes to see the EU staying united, stable, open and prosperous. Given the growing uncertainties and destabilizing factors in the world economy, there is every reason for China and the EU, as two major economies, to enhance strategic communication and coordination, and respond to the challenges together.

Chinese Premier Li Keqiang shakes hands with Croatian Parliament Speaker Gordan Jandrokovic on April 10, 2019. [Photo provided to chinadaily.com.cn]