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China is ramping up efforts to boost new types of consumption and foster consumption upgrading amid the novel coronavirus outbreak, the nation's top regulator of the industry said on Wednesday.

China is shifting to become one of the leading innovators in the world, thanks to an increasingly educated workforce and a growing economy, and there are many opportunities for companies from the United States and China to develop global partnerships and new, innovative ways to grow market share, said Gary Shapiro, CEO and president of the Consumer Technology Association.

China is hosting the assembly through Friday, more than two decades after hosting the 64th session in 1995. Participants from 158 countries and regions gathered in Beijing for the conference.

China is also gradually easing market access, after the country announced it will further open up its insurance, banking and other financial sectors for foreign players this April.

China has pledged more measures to stamp out dishonest behavior among e-commerce businesses after online shopping received the most complaints from netizens in the first six months of 2018.