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"The personal insurance sector in China has made notable progress in recent years, with insurance coverage continuously expanding and public awareness of risks steadily increasing. That said, the sophistication and coverage of China's personal insurance sector remain modest. This also indicates that China is a huge insurance market with enormous potential," Li said.

Xi underscored efforts to implement the APEC Internet and Digital Economy Roadmap in full to spur the dissemination and application of new technologies, strengthen digital infrastructure, and close the digital divide, while calling for building an open, fair, equitable, and non-discriminatory business environment.

"As China's economy grows, our people naturally want to lead an even better life. This will create more demand for a greater variety of quality products, technologies and services from across the world," he said.

The mechanism has also emphasized the importance of providing medical support and service. It especially applies to timely treatment and reporting of adverse reactions during the vaccination drive, Zeng said.

China always honors its commitments, Xi said.