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"China is doing well. We have been growing a lot here ... We are very happy with the performance we have seen in this market and it is still early in its development. We have only been serving this market directly from the US for the last 10 years and so it takes time to build a more profitable franchise," said Bastian.

"China is our second largest market worldwide," said Gilbert Ghostine, Firmenich CEO, adding that he expects the factory in Zhangjiagang to play a central role in the company's growth.

"China never pursues a trade surplus with any country, and the rapid development of Sino-US economic and trade ties over the past decades since the establishment of their diplomatic ties has proved that their cooperation is highly complementary and relatively balanced," the premier said.

"CIIE not only displays the development and rise of China under the policy of reform and opening-up but also presents a national image that is open, innovative, inclusive, reciprocal and committed to promoting the development of regional and global economies in the new era," he said.

"By the end of this year, apart from certain confidential documents, all the documents required for imports and exports will be applied and processed online a year ahead of the schedule proposed by the State Council," he said.