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China has unveiled a shortened negative list for market access of foreign investment, removing restrictions on a wide range of sectors. Restrictions on the ownership by foreign investors in entities such as securities firms, fund management companies and futures companies will be relaxed to 51 percent this year and is set to rise to 100 percent by 2021.

China is a partner, rather than a rival, and there is no fundamental conflict of interests between the two sides, he said, adding that the cooperation and consensus between them far outweighs competition and differences. He urged both sides to respect the other, seek common ground while shelving differences and keep enhancing mutual understanding and trust.

China is forming a new development pattern known as "dual circulation," which takes the domestic market as the mainstay while allowing domestic and foreign markets to boost each other, and the new pattern will be conducive to keeping the country's current account generally within the reasonable range, Wang said.

China has set a timetable for SOEs deleveraging as part of its efforts to defuse financial risks.

China has put forward the suspension for suspension initiative, which requires the DPRK to suspend its missile and nuclear activities in exchange for the suspension of large-scale US-ROK military drills.