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China had over 80 million small stores by the end of 2019, creating jobs for about 200 million people.

China has accelerated the opening-up of its financial sector by launching a series of policies and measures last year, said financial practitioners and experts.

China does not need to follow suit by raising its interest rate, said Yu Yongding, former member of the monetary policy committee of the People's Bank of China. "China needs to keep its interest rates stable," said Yu, an economist of the Chinese Academy of Social Sciences. "China has been able to resort to capital flow management to absorb the effect of the US interest rate hike, and the hike has been priced in by the market."

China became the world's largest market for new energy vehicles in 2015.

China has developed into a powerhouse of the global economy since it began to open up to the world four decades ago. One area that has developed especially is its automotive market, which has grown remarkably, despite last year's slowdown.