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Last year, China replaced the United States to become Germany's largest trading partner. Trade between China and Germany accounts for one-third of the trade between China and the 28 countries of the European Union, Shi said, citing German government figures.

Last May, China announced measures to encourage research and development by tech firms through favorable tax terms. SMEs in the technological sector can deduct an additional 75 percent of the R&D costs that occurred before paying taxes, effectively lowering their taxable income.

Last summer, the Internet Corporation for Assigned Names and Numbers, ICANN, invited applications from organizations to acquire and control the administration of new generic top level domains (gTLDs). Confused? A gTLD is the last component of a web address, such as “.com” or “.org.” Not surprisingly, Google is “one of the more ambitious applicants” as reported by?The New York Times. Google filed for control and ownership of more than 100 top-level domains.

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Last month, 137 gangs were shut down after the central authorities sent a team to Anhui for a monthlong inspection to oversee operations against organized criminal activity.

Last week, China adopted a foreign investment law that will come into effect in 2020 to provide stronger protection and a better business environment for overseas investors.

Last week, the country banned foreigners from Italy, Germany, Spain, France, the United States, and Iran from entering the country for 30 days.

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Last August Australia banned Huawei from supplying equipment for a 5G mobile network, citing national security risks.

Last year, spending on luxury products by Chinese consumers reached 770 billion yuan, and nearly 540 billion yuan were spent abroad. By opening more duty-free shops at the airports, it can help to redirect the spending on products like cosmetics, perfumes, bags and accessories to domestic retailers.

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Last September, when Whole Foods opened a new high-tech “365 by Whole Foods Market” in Bellevue, Wash., I visited to see what all the fuss could be about when it comes to grocery shopping. As a longtime consumer of food — and other stuff that can be purchased in stores — I figured I had the traditional enter / shop / purchase / leave concept figured out.

Larry Kudlow, director of the White House National Economic Council, reiterated on Monday that no tariffs were enacted yet and discussions are ongoing.