Since January of this year, the total equities in China's stock market have tumbled by over $2 trillion, and most of the loss is due to the intensifying trade and tariff disputes with the US started by President Donald Trump.
"China will not rush to compete with US numbers", it said, echoing comments made by state television.
The U.S. trade gap is now on track to hit a ten-year high, despite a series of tariffs imposed on products and raw materials around the world by the Trump administration.
US Secretary of State Mike Pompeo, however, remained staunch on Washington's push for fairer trading conditions with China.
The escalating dispute, with no settlement in sight, has fueled fears it might chill global trade and economic growth. The inquiry found that Chinese theft of US intellectual property was costing the USA economy billions of dollars.
China is proposing a 25% tariff on imports of U.S. liquefied natural gas, a major blow to an emerging American business. The U.S. can buy more because the economy is strong.
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The president fired off a pair of tweets vowing to tax any country that doesn't agree to "make or build" its products in the United States. Products that were included in the latest list like soybean oil aren't shipped in large amounts to the Asian nation.
Beijing's earlier round of tariffs appeared created to minimize the impact on the Chinese economy by targeting soybeans, whiskey and other goods available from Brazil, Australia and other suppliers.
Beijing then threatened to impose an additional $60 billion in tariffs on a variety of American goods - which White House economic advisor Larry Kudlow dismissed as "a weak response". Beijing accused the United States of starting a trade war.
Trump cited losses in China's stock market as he predicted the US market could "go up dramatically" once trade deals were renegotiated. Washington also wants China to stop subsidising Chinese companies with cheap loans, claiming that this allows them to compete unfairly.
The dispute is part of broader USA complaints about global trading conditions that have prompted Trump to raise duties on steel, aluminum, washing machines or solar panels from Canada, Europe, Japan and South Korea.
China is trying to seek an "equal" position in future talks with the USA with today's retaliation announcement, said Gai Xinzhe, analyst at the Bank of China's Institute of International Finance in Beijing.
But the U.S. Commerce Department reported today that the American trade deficit climbed to $46.3 billion in June from $43.2 billion in May.