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As one of the world's largest makers of memory chips, Micron has been in China for more than a decade. Currently, it has about 3,700 employees in the country. In addition to the Xi'an plant, it boasts an engineering center in Shanghai. To offer better localized products and services, Micron also has sales, marketing and customer labs in Beijing, Shanghai and Shenzhen, Guangdong province.

As more heavy rains threaten to drench China's south, recent rainfall caused floods in Ji'an, Jiangxi province, on Saturday. DENG HEPING/FOR CHINA DAILY

As of August, more than 2,200 financial institutions worldwide were said to be using the yuan in their transactions. Data from the International Monetary Fund indicated that by the end of the first quarter of this year, central banks around the world had 2.9 billion in RMB-denominated reserves, accounting for 1.95 percent of all reserves.

As long as the US delegation is sincere about maintaining the overall stability of China-US economic and trade relations and an attitude of mutual respect, equal consultation and mutual benefits, the consultation will be constructive, Hua said.

As of 2001, intellectual property royalties that China paid to foreign right holders have seen a yearly increase of 17 percent, amounting to .6 billion  in 2017, Zhang said.