Instead, "it will create enormous business opportunity for companies from home and abroad," Li said.

He said he expected more technological cooperation between domestic firms and their global peers and more manufacturing products into the Chinese market.

With huge market potential, the improvements of China's manufacturing will in return prompt the growth of the world market, Li said.

Responding to concerns on forced technology transfers, Li said: "The government will not allow Chinese companies to compel foreign partners to transfer technologies or infringe on intellectual property rights [...] cooperation should be voluntary and to the benefit of exploring the Chinese market."

Li promised equal support for foreign-funded companies in areas related to the plan, such as green development.

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