Become a strong trading power by 2050

The country will continue to see high-quality development as the government's work agenda emphasis and aim to become a strong trading power by 2050, said Minister of Commerce Zhong Shan on Sunday.

"The country has become the world's leading trading power due to the outstanding performance of the domestic consumption, foreign trade, foreign capital and direct investment," said Zhong during the first session of the 13th National People's Congress.

"We are big but not strong enough. To become a strong trading country, we need to drive the economic growth by innovation and high-quality development."

"We aim to stabilize our position as a big trading power by 2020, and transform into a strong trading country by 2035 and finally become an economic giant by 2050,"Zhong added.

China International Import Expo to boost globalization

The first China International Import Expo, one of the country's concrete measures to further open up, would facilitate economic globalization and trade liberalization, said Minister of Commerce Zhong Shan on Sunday.

More than 60 economies have registered with the Country Pavilion for Trade and Investment, including developed and developing countries, as well as the least developed countries, said Zhong at a press conference during the first session of the 13th National People's Congress.

Companies from 120 countries and regions registered with the Enterprise and Business Exhibition, and the exhibition area was 20 percent more than expected, Zhong said.

China remains preferred destination for foreign investment

China is still a popular destination for foreign investment, said Commerce Minister Zhong Shan, reiterating commitment to opening up.

"China's business environment is improving rather than worsening," Zhong said at a press conference on the sidelines of the annual legislative session.

He cited a World Bank report that China has moved up 18 places in the global ranking of ease of doing business in the past five years.

Overseas investment to the Chinese mainland reached $136.3 billion last year, ranking the second in the world and hitting an all-time high.

Zhong reiterated China's commitment to opening even more to the world.

China pledged further opening up in a government work report delivered to the first session of the 13th National People's Congress.

The government promised measures including investment facilitation, exploring opening free trade ports and offering wider access to sectors including financial services, general manufacturing, telecommunications, medical services, education, elderly care and new energy vehicles.