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China's A-share market closed higher on Monday, with the benchmark Shanghai Composite Index up 4.09 percent to finish at 2654.88 points.

China's Panda bond market has seen significant growth as the country opens up its onshore bond market.

China will promote market-based allocation of factors of production including land, labor and capital, while accelerating the development of the market of technology and data factors, it said.

China will further open up its market for imports from other BRICS countries and pledge to spearhead an anti-protectionism campaign with Brazil, Russia, India and South Africa, a senior commerce official said on Tuesday.

China will further promote the amendment and supporting legislative formulation of the Anti-monopoly Law (AML), lay down anti-monopoly guidance, and reinforce investigation and treatment of administrative monopoly cases, said Gan Lin, vice-minister of the State Administration for Market Regulation, on July 31. Government officials and experts from worldwide, and executives of Chinese and multinational companies in various industries welcomed the administration's decision for a better and fairer market.