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China will soon slash tariffs on imported consumer goods including pharmaceuticals and introduce easier access to imported advanced technology and key machinery parts, according to government sources.

China will lift foreign ownership limits on securities, fund management and futures companies by the end of this year, a year ahead of the schedule, said the State Council's Office of Financial Stability and Development Committee last year when it announced 11 measures to further expand the financial sector's opening-up. The central government also allowed foreign asset managers to partner with subsidiaries of Chinese banks or insurers to establish foreign-controlled asset management companies.

China's GDP was stable in the first quarter but March data points to weakness ahead, led by the eased growth of industrial production and slowed fixed asset investment. The PPI rose 3.1 percent year-on-year in March down from 3.7 percent in February, according to the National Bureau of Statistics.

China's businesses are gradually getting back to work, as around 11,000 key projects outside of Hubei province have resumed work at a rate of 89.1 percent as of Friday,the country's top economic planner said on Saturday.

China's answer is clear: We remain committed to further opening up. This commitment boosts confidence in robust economic growth.