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China is transforming from the "world factory" to a new smart manufacturing powerhouse, as the nation's smart manufacturing market is expected to exceed 220 billion yuan ( billion) by 2020, according to a new report.
China is happy to see a united, peaceful and prosperous Africa and stands ready to further its comprehensive and practical cooperation with the continent, Li said, noting the hope for more fruitful results within the frameworks of the Belt and Road Initiative and the Forum on China-Africa Cooperation.
China is cutting tariffs across the board. Effective on July 1, China's average tariff rate for clothing, shoes and hats, kitchenware, and sports and fitness supplies will be reduced by 50 percent, and that for home appliances will be lowered by two-thirds. Import taxes on vehicles and auto parts will also be slashed on the same day.
China is Australia's largest trade partner. It is also the largest market for Australian exports and the largest source of imports to Australia, according to the Foreign Ministry.
China has two big advantages as a manufacturing power, according to the business magazine, with its industrial base unparalleled in breadth and depth, and the country's vast domestic market.
来源：资阳报