China has responded to United States President-elect Donald Trump's latest criticism, declaring it has been playing by trade rules set by the World Trade Organisation.

Foreign Minsitry spokesman Lu Kang suggested on Friday that China and the United States could totally work out their differences over trade issues within the framework established by the WTO.

Lu's comments followed Trump's appearance at a rally in Iowa where he reportedly blamed China for almost half of America's trade deficit, and accused China of not being a market economy because it hasn't played by the rules.

Trade between the two countries has increased from $2.5 billion per year to more than $558 billion last year, according to Lu.

"Bilateral trade could not have developed to such a state nowadays if it hadn't brought benefits to both sides," he said, adding that the two countries' interests are deeply interwoven.

It is a "normal state" that the two countries share a lot of common interests while having some differences, and China hopes to work with the new US government to continue mutually beneficial cooperation and manage the differences properly, the spokesman said.