Wang said that the RCEP, if inked among 15 member countries, will be the world's largest free trade area. If India joins in after resolving the remaining issues, the FTA's scale will be further expanded, he added.
Wang also said that since joining the WTO, China has kept improving the socialist market economy system, reduced import tariffs, significantly lowered non-tariff barriers and liberalized the right to trade.
Wang made the remarks after China National Radio recently reported that quite a number of tombs had been built and graveyard spots had been illegally bought and sold on Laoshan Mountain, a national 5A scenic spot east of Qingdao beside the Yellow Sea.
Wang Lei, secretary-general of the expo, said more countries, especially those along the Silk Road Economic Belt and 21st Century Maritime Silk Road, will be invited to attend the expo to create more business opportunities.
Wang said he dreams of owning a house in urban Beijing one day in the future when he hopes their incomes will rise on higher wages, and property prices will be lower.
Wang said the business, though with high premium and revenue, carries high risk. He suggested insurers should employ more experts in both insurance and art, and adopt technological tools to enhance risk management.
鹿泉区治疗矮小症的儿科医院
Wang Minghui, president of State-owned pharmaceutical firm Yunnan Baiyao Group, speaks at a forum. [Photo provided to China Daily]
Wang emphasized Ukraine is the first European country to approve and get involved in the Belt and Road Initiative.
Wang Zhenhui, CEO of JD Logistics, said in an earlier interview that the company will continue to penetrate into fourth to sixth-tier cities and townships where orders can be delivered directly to doorsteps within 24 hours, while adding that the logistics efficiency improvements will give a big boost to the retailing of its products.
Wang noted a series of investments also showcase the social responsibility of those tech and retail powerhouses. There was a shortage of technology applications in governance and lack of modern retail supply during the epidemic so this represents huge business opportunities for the tech and retail giants.