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Before the reform started in 2014, if someone wanted to start a new business, they had to get a series of approvals before getting a business license, a process that usually took months. Part of the reform is to turn 152 pre-approval items into post-approval items, which both saves time and requires stronger supervision. Such efforts have greatly improved China's business environment, as higher requirements are set for business and social credit.

She said the ESCAP has a long-standing tradition in promoting cooperation and integration in the Asia-Pacific region, acting as a very honest inter-governmental platform to negotiate agreements of transport, energy, and ICT.

He called on the two countries' parliaments to strengthen mutual learning in the legislation of intellectual property protection, innovation and entrepreneurship as well as vocational education.

Stressing that China remains and will continue to be a major driving force for global economic growth, Xi said China's stability and development is a great contribution to the world.

NEW DELHI, May 6 (Xinhua) -- Indian Prime Minister Narendra Modi has expressed his confidence in the future of India-China relations with progress achieved by both countries in developing their ties.