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China welcomes US companies to actively participate in its market and will strive to create a fair and just environment, the Ministry of Industry and Information Technology said on Monday, citing a meeting it held with companies including Qualcomm Inc and General Motors.

China put forward the "dual circulation" development pattern in May. Domestic circulation, or the internal cycle of production, distribution and consumption, is expected to be the mainstay of economic development while it is integrated with "international circulation" to promote the smooth two-way flow of goods and capital.

China will become a first choice for companies to build headquarters within five years, if China makes full use of its advantages and overcomes its weaknesses.

China is willing and able to play a bigger role in Arctic development and cooperation, said Vice-Premier Wang Yang during the Fourth International Arctic Forum, which ended in Arkhangelsk, Russia, on Thursday.

China must separately develop open, stable and safe industrial and supply chains in both international and domestic markets to prevent unexpected risks. If these two chains are successfully built, China will be able to become a driving force behind the recovery of the global economy.