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China has become the world's second-largest economy and, although it still needs to catch up in competitiveness, it is quite capable of making the US pay a heavy price if the Trump administration is not just posturing and does begin to match its words with actions.

China has become the world's largest crude and gas importer, importing 440 million tons of crude oil and 125.4 billion cubic meters of gas in 2018, up 11 percent and 31.7 percent year-on-year. The foreign oil and gas dependence ratio reached 69.8 percent and 45.3 percent, according to China National Petroleum Corp's Economics and Technology Research Institute.

China has outlined a series of reforms to better orient the NEEQ to the needs and features of small enterprises and support the high-quality growth of the real economy, said the China Securities Regulatory Commission in October.

China has exempted all cancer drugs from import tariffs since May 1, as a move to further open the market to boost their accessibility.

China has managed to meet the basic living needs of more than 1.3 billion people, lifting more than 800 million out of poverty and creating more than 770 million jobs through the end of last year, according to Xian Weiyi, minister-counselor of China's mission to the EU.