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China's efforts to strengthen antitrust and consumer protection will protect and stimulate the vitality of market players, and will help create a stronger domestic market, Economic Daily reported on Tuesday.

China's financial opening has been firm and steady. Foreign ownership caps on securities firms were scrapped recently, which has inspired many foreign companies to seek to set up wholly owned subsidiaries.

China's financial sector has also made a landmark move as Bank of Beijing agreed to set up a joint venture with ING Bank NV, a wholly owned subsidiary of Dutch multinational banking and financial services provider ING Group in late March, with the latter as the controlling shareholder.

China's emerging bike-sharing operators have begun to test the waters in several US states, demonstrating China's innovative ability to the citizens in the country half a world away.

China's legal system includes a number of provisions on fighting organized crime, but they are scattered among different laws and some have been relatively ineffective, Li said.