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China has not established a household garbage sorting system or a waste-recycling network, which means a massive amount of waste ends up in landfills and incinerators, he added.

China has always attached importance to protecting IPR by formulating laws and regulations, cracking down on violations and raising public awareness of IPR, Hua said.

China follows a trade policy of balance in import and export, and does not seek trade surplus. Its current account surplus to GDP ratio has dropped from the peak of 10% in 2007 to 1.8% last year. And in the first quarter of this year, it was only 0.7%, lower than that of many EU countries. China stands ready to work for the launch of a joint feasibility study for a China-EU free trade area as early as possible, further improve trade liberalization and facilitation, and create favorable conditions for competitive European products to enter the Chinese market. We also hope the EU will loosen restrictions over hi-tech exports to China, exercise restraint in the use of trade remedies, and promote the balanced growth of two-way trade.

China has become one of the fastest growing markets for American Express. Without offering specific China market data, Keung said the number of its Chinese clients and the transaction value has increased substantially over the past four years.

China has facilitated the trademark registration process and by Nov 9, the average trademark review cycle had shortened to less than six months.