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China will increase access to the service and manufacturing sectors, relax restrictions on foreign ownership, and treat Chinese and foreign companies on an equal basis, said Premier Li Keqiang at the opening ceremony of the forum on Tuesday.

China will promote market-based allocation of factors of production including land, labor and capital, while accelerating the development of the market of technology and data factors, it said.

China will step up its push to expand its 5G network coverage, build a dynamic industrial ecosystem and strengthen international cooperation, so as to quicken the commercialization of the superfast wireless technology, officials and experts said.

China's basic medical insurance program has covered almost the entire population in China, he said.

China's Foreign Ministry described the move as bullying. "Signing the bill into law severely meddles in Hong Kong affairs, severely interferes in China's internal matters and seriously violates international laws and basic norms governing international relations," the ministry said in a statement released on Thursday.