China to further open up its markets through 3 key initiaives

China will take the initiative to share the opportunities presented by its vast domestic market with the rest of the world through such initiatives as "Shopping in China", "Export to China", and "Invest in China", Commerce Minister Wang Wentao said on Friday.

For the "Shopping in China" campaign, the country will optimize the instant tax refund service, Wang said at a news conference on the sidelines of the fourth session of the 14th National People's Congress, China's top legislature, adding that the government will work to deepen the development of international consumption hub cities.

The "Export to China" Initiative, will see China strengthen the alignment between what other countries have to offer and what China needs, better positioning China as the optimal export destination for an expanding number of trading partners, Wang said.

Meanwhile, China continues to welcome foreign businesses to invest in China and compete with domestic enterprises on an equal footing, Wang said.

China will transform the "demand lists" submitted by foreign-invested enterprises into actionable "service lists" of government commitments, Wang added.