Building a high-standard free trade area network with global reach is in line with China's goal of forging a new round of high-level opening-up, and was highlighted in the Party leadership's proposals for formulating the 14th Five-Year Plan (2021-25) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, Wang said.

He added the country will make more efforts to increase the proportion of the goods trade that enjoys zero tariffs, ease market access for the services trade and investment, and proactively participate in rule-setting negotiations in fields such as the digital economy and environmental protection, to shore up the establishment of an open economy at a higher level.

According to analysts, China's pursuit of higher-level opening-up is in line with the implementation of its new dual-circulation development strategy and will enhance China's contribution to global economic development.

"Opening-up is an indispensable part of the dual-circulation development pattern, because the interplay between domestic and foreign markets will boost each other while the country seeks to build a strong domestic market," said Huo Jianguo, vice-chairman of Beijing-based China Society for World Trade Organization Studies.