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China will further open and reform its markets, as well as facilitate a predictable business environment to help companies improve their ability to respond to risks, said the Ministry of Commerce.

China's Industry and Information Technology Minister Miao Wei mentioned, as of this year, BRICS cooperation has entered into its second decade of operation.

China's asset management business expanded slower in recent years as authorities tightened regulations to contain risks arising from wealth management products.

China will improve its long-term regulatory mechanism for vaccines and implement the toughest possible oversight on related products, Jiao Hong, head of the National Medical Products Administration, said on Monday.

China will improve the protection of intellectual property rights, raise the competitiveness of the research and development environment and maintain continuity in foreign investment policies, it said.