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China's retail sales, the barometer for consumption, contracted by 20.5 percent on a yearly basis during the first two months of the year, but the contraction narrowed to 15.8 percent for March, the National Bureau of Statistics said.

China, on the other hand, depends on the US as a large source of external demand for Chinese exports and depends on US financial markets to provide a benchmark for the currency.

Chinese Ambassador Cui Tiankai said he believes that China and the US "remain in the same boat", and the common challenge is to navigate through uncertainties or uncharted water for the benefit of both countries and the entire world.

China-Japan-ROK trilateral cooperation has achieved fruitful outcomes in areas such as the economy, trade, finance, transport, culture, education, environment, health, and disaster management. An investment agreement has been signed, and 13 rounds of free trade agreement (FTA) negotiations have been held, according to Hua.

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, delivers a speech at a gathering celebrating the 30th anniversary of the founding of Hainan province and the Hainan Special Economic Zone in South China's Hainan province, April 13, 2018. [Photo/Xinhua]