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China's economic growth held steady in the first half of 2019 despite headwinds, as positive factors are increasing to support high-quality development, the country's top economic regulator said on Tuesday.

China's government has taken great steps to open up China's financial markets to foreign investors and foreign competition in the last two years. In the long run, this will improve the economy's efficiency by introducing more competitiveness and innovation into the domestic financial system.

China's economic transformation will continue to drive domestic demand and market expansion. For the United States, China is a great investment market which is still expanding, Wang said.

China's fast-moving consumer goods (FMCG) industry saw its expansion moderate in the first half of 2018, while posting a two-speed growth trajectory, with personal and home care growing at a much faster rate than food and beverage, according to the latest annual China shopper report from market research firms Kantar Worldpanel and Bain & Company.

China's financial openness will continue to facilitate the renminbi's market function. China has made tremendous efforts to relax restrictions on capital account transactions in the past. The most recent moves include eliminating quota ceilings for QFIIs (qualified foreign institutional investors) and QDIIs (qualified domestic institutional investors) and opening ownership for foreigners.