China's greater opening promises shared prosperity

"China's firm commitment to economic globalization, free trade and an open economy will benefit the world," said Samir Bouabdallah, CEO of Flybotix Professional Portable Drones.

"China is not only a strategic market and manufacturing hub for Dow but also the innovation center," said Jon Penrice, Asia Pacific president of Dow, a U.S. materials science giant that has been operating in China for 40 years.

Dow now owns nine manufacturing sites and 10 offices in China, the company's second-largest market after the United States. Acknowledging the vast talent resources and seeking to further tap into the Chinese market, Dow opened in 2009 the Shanghai Dow Center, its largest integrated R&D center outside the U.S.

"As China sets its strategy focusing on growth based on quality and innovation, we see tremendous opportunities brought by the change," Penrice said. Last month, the company broke ground for a new specialty silicone resin line in Zhangjiagang, the third new line Dow invested in the past three years, so as to meet growing needs for high-performance materials from segments including transportation, home and personal care and consumer electronics.

Thanks to China's innovation-driven strategy, a large number of unicorn companies are coming from China, which are "very interesting clients for us in that we can add value with our approach," said Henrik Naujoks, director and partner of the Bain & Company.

To further open up its market, China unveiled a series of measures, including a shortened negative list for foreign investment, enhanced protection of intellectual property rights and improvement of the business environment.

The country will become more open, transparent and predictable for foreign investment, and its business environment will further improve, Premier Li said.

"These measures will promote the economic development of both China and the world, making China still a growth engine for the world economy," Jeffrey Wong said.