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The capital market will open wider to investors from both home and abroad, with improved laws and policies for early warning and management of risk and harsher punishments against illegal operations like false statements, insider dealing and market manipulation, Li added.

Zhang Dejiang, chairman of the Standing Committee of the National People's Congress (NPC), presided over the opening meeting of the session, which runs from Tuesday through Thursday.

The Netherlands advocates free trade and will continue to work within the EU to push forward Europe-China cooperation, he said.

"By exposing their 'skeletons in the closet,' the discipline as well as the political and legal systems are signaling that they would not cover up their own mistakes and would remove the 'black sheep' from within," Wang said.

BEIJING, March 5 (Xinhua) -- The 12th National People's Congress (NPC), China's parliamentary body, opened its second annual session Wednesday morning at the Great Hall of the People in Beijing.