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China recently released a series of measures for opening-up and will further reduce market access threshold, lowering shareholding ratios of foreign companies in fields such as automaking and the financial sector, he said. Intellectual property rights protection will be strengthened and a business environment of fair competition will be accelerated, which provides more opportunities for companies from Germany, Europe and other countries and regions, he added.

China welcomes foreign institutions with expertise in risk management, pension management, consumer finance, wealth management and health insurance, Huang said.

China recently penalized a number of new energy vehicle manufacturers for fraudulently claiming subsidies. As of February, the authorities had successfully retrieved subsidies and imposed penalties of 2.3 billion yuan (3.5 million) in total.

China started the world's largest carbon trading system on Tuesday, sending strong signals that it plans to use the market as a key policy tool to curb emissions and also is keeping its Paris Agreement commitments.

China started its new energy vehicles initiative in 2009 and overtook the United States in 2015 as the largest market for them in the world.