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The convening of the 3rd CIIE was another important milestone in China's economic recovery following the unprecedented COVID-19 pandemic, and sent an unmistakable signal of China's continuing reform and opening-up, and willingness to share the fruits of its developments with overseas partners.

The country will continue to shorten the negative list for foreign investment and allow wholly foreign-funded businesses to operate in more sectors, Han said in a speech at the opening of the annual China Development Forum.

The country has also made a "great leap" in all-electric vehicles with Elon Musk's Tesla, which rolled out the Model 3 from its Gigafactory near Shanghai in January.

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The country will considerably liberalize market access for foreign investment, further facilitate overseas capital inflows and offer favorable policies to such investment in the west, central and northeast China regions, said an official on Tuesday.

The conventional wisdom is that consumer spending will sustain growth in the US economy, despite slowing economies in Asia and Europe, as evidenced by the strong performance of major banks in the second quarter.

The country has been pushing supply-side structural reform to promote a balance between demand and supply.

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The country also closed all 959 illegal docks along the Yangtze River by the end of September, 809 of which have undergone ecological restoration, he said.

The concept of paying in installments is increasingly seen not only as a way to meet urgent needs, but also as a normal payment method, especially among those born after 1995, who appreciate the convenience of internet financing, according to LexinFintech Holdings Ltd, an online consumer finance platform for educated young adults in China.

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The conference, jointly held by the China Federation of Internet Societies and the provincial Cyberspace Administration, will include a main forum and three sub-forums covering the application of technologies such as big data, cloud computing and blockchain in building the social credit system.

The country also will deepen financial reforms, including improving financial regulation coordination and shoring up weak links in supervision.