Chinese Premier Li Qiang delivers a keynote speech at the opening ceremony of the seventh China International Import Expo and the Hongqiao International Economic Forum in east China's Shanghai, Nov. 5, 2024. (Xinhua/Wang Ye)

Chinese Premier Li Qiang on Tuesday pledged to further expand opening up and turn China's vast market into great opportunities for the world.

Li made the remarks during his keynote speech at the opening ceremony of the seventh China International Import Expo (CIIE) and the Hongqiao International Economic Forum in Shanghai.

Hosting the CIIE is an important measure for China to expand opening up and cooperation, representing China's solemn commitment to the world, Li said.

If the first CIIE was a one-way invitation from China to the world, then each subsequent edition has become a mutual commitment between China and the world, reflecting the shared aspiration for opening up and cooperation, the premier said.

Li stressed the need to strengthen consensus on opening up, adding that all parties should jointly adhere to international economic and trade orders and rules and earnestly fulfill multilateral and bilateral economic and trade agreements.

China will further expand institutional opening up and actively align with high-standard international economic and trade rules, Li said, pledging efforts to implement the strategy for upgrading pilot free trade zones.

Li said the country is willing to open up its enormous market further, including implementing the unilateral opening up and offering zero-tariff treatment for all tariff lines from the least developed countries, and effectively turn the huge market into great global opportunities.

China firmly safeguards the multilateral trading system with the World Trade Organization at its core and supports developing countries in sharing more benefits of globalization, Li said.

He said China stands ready to continue close coordination and cooperation with all parties in international economic organizations, take the lead in exploring the implementation of the Investment Facilitation for Development Agreement, and join efforts to build an open world economy.

"The fundamentals of the Chinese economy remain sound, and the Chinese government is capable of promoting steady economic growth and contributing more to global development and the welfare of humanity," said the premier.

In their speeches at the ceremony, foreign leaders and heads of international organizations remarked that the CIIE has become an important international platform for promoting trade and investment and boosting opening up and cooperation.

They voiced their confidence in the Chinese economy and its prospect, and expressed willingness to advance cooperation with China in jointly building the Belt and Road as well as in areas such as economy, trade, connectivity and green development, maintain free trade, and promote equality, progress and sustainable development in the world.