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As the latest negative list eases market access in a number of sectors, including the establishment of nursing homes and social welfare institutions, it will further open up the country's service industry to both domestic and overseas businesses, said Li Hongbiao, a senior researcher from the Revitalization Research Institute of Shenyang-based Northeastern University,

As the birthplace of China's modern industry and commerce, Wuxi has been known as "little Shanghai" for years due to its flourishing economy, especially private economy.

As the country's helmsman, Xi launched the new round of reform and opening up, the largest in scale around the globe, at a time when the giant vessel of China has entered "a deep-water zone."

As the global financial conditions have tightened abruptly with the onset of the COVID-19 pandemic, China can offer yuan liquidity to the global market, through expanded overseas investment, increased cross-border lending, increased imports and offshore yuan deposits, said Tu Yonghong, deputy director of the international monetary institute under the Renmin University of China in Beijing.

As the country prepares to celebrate the 70th anniversary of the founding of the People's Republic of China this year, there are both development opportunities and risks ahead, Xi said.