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"China has developed rapidly over the years, but over the next five years, we would expect it to develop even more rapidly on the back of more and more innovation," he said.

"China has taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture and medical treatment sectors," said Li Guanghui, vice-president of the Chinese Academy of International Trade and Economic Cooperation.

"By stopping declawing in their practices, veterinarians make more money because people are looking for a humane vet," she said.

"Cancellation of the limit will attract more foreign banks, especially those that are small or medium-sized, which will enrich our market entities," Dong said.

"China is further opening up its market to foreign investors by lifting entry barriers. We hope the expanded pilot program, laws and rules will further promote cross-border investment in transportation, education, healthcare, finance and professional services," said Gavin Guo, international partner of the Shanghai-based Kewei Law Firm.