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China welcomes quality Australian products in its market, which means more varieties for Chinese consumers, and will continue to expand access to its market and build a market-oriented, law-based and international business environment that gives equal treatment to domestic and foreign companies, Li said.

The meeting agreed to set up a system for evaluating the business environment in China that is comparable internationally, aligned with World Bank standards and reflects Chinese features. The assessing criteria shall cover areas of immediate concern to market entities, such as ease of opening a business, construction licensing, access to electricity and credit, paying taxes, filing for bankruptcy, and the protection of intellectual property rights.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, led a division of a central delegation to conduct the visit.

Xi also called for the enhancement of innovation in social governance to address major public concerns including employment, education, healthcare and elderly care. The quality of basic public services must be raised to ensure a stronger sense of fulfillment, happiness and security among Chinese people, he said.

China's reform and opening-up over the past 40 years has proven to be the "golden key" to reviving its society, said Jin Jianmin, a senior fellow at the Fujitsu Research Institute in Tokyo, believing that the ongoing process will never stop.