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China has announced a policy for import duty exemptions on foreign goods to be sold at the Third China International Import Expo from Nov 5 to 10 in Shanghai, according to a statement published on the website of the Ministry of Finance on Wednesday.

China has more than 300 IPR tribunals, and about 3,000 judges and 2,000 judicial assistants working on IPR.

China has a complete legal system for intellectual property rights protection, he said. Since joining the World Trade Organization, the payments made by Chinese companies for using intellectual property rights increased by 14 times, Li said. Stricter measures will be taken to punish violators and provide fortified backing for innovations, he added.

China has held fast to its desire to further integrate its market into the global economy. The latest set of measures to further liberalize the capital markets reinforces that desire.

China approved a bond connect program between the mainland and Hong Kong earlier last month, allowing investors from both sides to trade bonds on each other's interbank markets.