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China has said that its comprehensive retaliation measures will match those of the US both in quantity and quality, as the two largest economies are on the verge of a trade war.

China hopes to work with Italy to strengthen our comprehensive strategic partnership. Our two countries may plan more high-level exchanges and cooperation between our governments, parliaments, political parties and subnational entities, strengthen policy communication, enhance strategic trust and synergy, and continue to give understanding and support to each other on issues of core interests and major concerns, so as to consolidate the political foundation of our relations.

China insisted on equal treatment and protection of IP rights of domestic and international companies and made globally recognized achievements in this field. Some US intellectual property authorities and related media also said China's IP protection environment is at the forefront of developing countries and has becoming a preferred place for multinational companies to initiate IP litigation around the world, Shen said.

China is looking to nurture a strong domestic market and spur buying in an all-around way, an important pillar to shore up the new "dual-circulation "development pattern.

China is shaping up to be an emerging force in the global private equity scene. The country was home to 14,309 private equity and venture capital firms by the end of June.