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China has also established a corresponding mechanism for tariff exemption and will proceed according to applications from enterprises, he added.

German pharmaceutical company Bayer said in its quarterly report that pharmaceuticals have registered an encouraging sales growth of 5.3 percent to over 4.3 billion euros (4.8 billion dollars) in the first quarter of 2019, "with business in China developing particularly well."

BEIJING, July 13 (Xinhua) -- China's rapidly expanding consumer market offers a strong link between China and the world, as well as a huge opportunity for international businesses, said a report released by McKinsey Global Institute.

It is hoped that the two sides will strengthen coordination to better implement the eight major initiatives put forward at the Beijing summit of the FOCAC, actively explore new paths for cooperation, open up new points of growth for collaboration, and promote China-Africa economic and trade cooperation to a new level, Xi said.

Xi's state visits to Kyrgyzstan and Tajikistan, he added, demonstrated the close friendship between the heads of state and the high level of China's ties with the two countries.