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"China will be widening the business spectrum for foreign financial institutions and also expand the cooperation areas of Chinese and foreign financial markets," Xi said, addressing more than 2,000 politicians, business and media leaders and scholars at the four-day event, which started Sunday in South China's Hainan province.

"China's foreign exchange reserve is expected to remain generally stable in 2019, due to the sound economic growth momentum in the long run. It is able to trade off external shocks and market fluctuations, and maintain cross-border capital flow stability," said Wang Chunying, the SAFE spokeswoman.

"Corporations have to pay tax and avoid illicit financial outflows. Governments have to close tax loopholes which rob the poor of the money required for healthcare, education and development," she said, noting that Africa loses over billion per year in illicit financial outflows.

"Currently, China's service exports are mostly dominated by large businesses. But the majority of the service providers in China are SMEs. There will be more opportunities for them to export their services in the future," he said.

"China welcomes foreign businesses to invest and develop in China. And we will continue to unswervingly expand opening up, create a more open and business-friendly environment and protect the legitimate rights and interests of foreign investment," Meng said at a news conference in Beijing.