who are china's trading partners?
Angola Sudan United States of America Wellington Mozambique Laos Yemen
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 In November 2010 , Russia began using the Chinese renminbi in its bilateral trade with China . This was soon followed by Japan , Australia , Singapore , the United Kingdom , and Canada . As a result of the rapid internationalization of the renminbi , it became the eighth @-@ most @-@ traded currency in the world in 2013 . 

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 In recent decades , China has played an increasing role in calling for free trade areas and security pacts amongst its Asia @-@ Pacific neighbours . In 2004 , it proposed an entirely new East Asia Summit ( EAS ) framework as a forum for regional security issues . The EAS , which includes ASEAN Plus Three , India , Australia and New Zealand , held its inaugural summit in 2005 . China is also a founding member of the Shanghai Cooperation Organization ( SCO ) , along with Russia and the Central Asian republics . China became a member of the World Trade Organization ( WTO ) on 11 December 2001 . 

contradiction
 The PRC has diplomatic relations with 171 countries and maintains embassies in 162 . Its legitimacy is disputed by the Republic of China and a few other countries ; it is thus the largest and most populous state with limited recognition . In 1971 , the PRC replaced the Republic of China as the sole representative of China in the United Nations and as one of the five permanent members of the United Nations Security Council . China was also a former member and leader of the Non @-@ Aligned Movement , and still considers itself an advocate for developing countries . Along with Brazil , Russia , India and South Africa , China is a member of the BRICS group of emerging major economies and hosted the group 's third official summit at Sanya , Hainan in April 2011 . 

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 In 2000 , the United States Congress approved " permanent normal trade relations " ( PNTR ) with China , allowing Chinese exports in at the same low tariffs as goods from most other countries . China has a significant trade surplus with the United States , its most important export market . In the early 2010s , US politicians argued that the Chinese yuan was significantly undervalued , giving China an unfair trade advantage . In recent decades , China has followed a policy of engaging with African nations for trade and bilateral co @-@ operation ; in 2012 , Sino @-@ African trade totalled over US $ 160 billion . China has furthermore strengthened its ties with major South American economies , becoming the largest trading partner of Brazil and building strategic links with Argentina . 

contradiction
 China ranked 29th in the Global Competitiveness Index in 2009 , although it is only ranked 136th among the 179 countries measured in the 2011 Index of Economic Freedom . In 2014 , Fortune 's Global 500 list of the world 's largest corporations included 95 Chinese companies , with combined revenues of US $ 5 @.@ 8 trillion . The same year , Forbes reported that five of the world 's ten largest public companies were Chinese , including the world 's largest bank by total assets , the Industrial and Commercial Bank of China . 
