Cong.
UIC is a pretty good university, especially it is in Chicago. But I still recommend you to prepare for transferring after you arrive at US. Economics here is very competitive. As an international student, you will find it is a little hard for you to find a faculty job in a relative good university, if you graduate from UIC. Actually, the rank of ecnomics @ UIC is only 80, not very high. If you wanna be a professor in a middle ranked university, you'd better enter top 30 universities in US.
Now, you need to preapre your visa application first. I have heard that due to the shooting event in campus @ VT, it may have some effect on visa application in China. In addition, your program is Phd program and you donot get full financial aid. Therefore, you have to make an all-round preparation, especially your financial support from your family.
Bless you!! Hope you can reach U.S. successfully!!