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China issued measures to further expand the opening up of the financial sector in July, allowing qualified foreign investment institutions to obtain the "A-class" licenses of lead underwriter, which can provide a broader service, and B-class licenses. "So the German demand is no longer a problem now, and the German institutions will receive more permission in the future," said the official.

China started employing the negative list approach to foreign investment in 2013 in the China (Shanghai) Pilot Free Trade Zone (FTZ), and expanded the trial run to four regions in 2015.

China reiterated on Tuesday its pledge to open its markets wider to foreign competition as the nation continues its role as a defender of free trade and cooperation in contrast to growing protectionism and unilateralism in the United States, manifested by the Trump administration's notorious "America First" approach.

China should speed up efforts to build world-leading new artificial intelligence infrastructure and smart transportation systems that use cutting-edge technologies such as AI and 5G, said Robin Li, chairman and CEO of leading Chinese search engine Baidu Inc.

China spent .9 billion on television programming in 2017, according to a report from global information provider IHS Markit in London. Of that, TV broadcasters spent .4 billion and Chinese companies Baidu, Alibaba and Tencent invested .5 billion in programs for their online entertainment platforms.