Equally and even more important, it allows China to be the economic leader for the future, or simply put , they will stand to make a lot of money from this because America has now chosen to stand on the sidelines.  
 
Cities and companies remain committed to the Paris Accord.  For China, they could not have imagined a better scenario.  And btw, as to North Korea, China is content to sit and watch, short of a war.  

And China is now beginning their huge economic initiative, while Trump's commerce leadership currently seem to be ok with justifying their planned economic initiatives, by placing their bets on purely theoretical economic assumptions.   Unbelievable.