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China should accelerate institution building for intellectual property of emerging areas and sectors, and punishment against intellectual property violation should be tougher to hold the violators accountable, he added.

China kicked off the implementation of the registration-based IPO system on Shanghai's STAR Market last July, which eased the IPO standards for tech startups and shortened the IPO process.

China will also continue to open the bond market, encourage investment under the Renminbi Qualified Foreign Institutional Investors scheme, jointly develop green bond markets and support Paris as an international renminbi offshore hub, while improving cooperation in financial regulation and anti-money laundering.

China offers incentives to banks and businesses in the form of lower central bank borrowing costs and subsidized interest payments on green bonds. For the most environmentally friendly loans, the government subsidizes up to 12 percent of the interest rate.

China will continue to hold high the banner of peace, development, cooperation, and mutual benefit and uphold its fundamental foreign policy goal of preserving world peace and promoting common development. China remains firm in its commitment to strengthening friendship and cooperation with other countries on the basis of the Five Principles of Peaceful Coexistence,1 and to forging a new form of international relations featuring mutual respect, fairness, justice, and win-win cooperation.