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"China has embraced the world with open arms, made a significant contribution to promoting international trade and increasing global wellbeing, and become a key anchor and driver for the world economy," says the white paper.

"China can provide Canada with low-cost products for the manufacturing sector in return," he added. "China's outbound investment has been increasing rapidly. If its investment in Canada is also on the rise, it will help to boost the local economy.

"China is now the fastest-growing market for us. Its innovation system is truly developing with an unprecedented speed," said Saeed Amidi, founder and global CEO of Plug and Play, one of the world's largest technology startup accelerators.

"China is one of the world's most open markets for dairy products, with negligible tariffs on Australia and New Zealand for the next five years. The openness entails wonderful opportunities for Chinese dairy companies to go global," Lu Minfang said.

"China is further opening up its market to foreign investors by lifting entry barriers. We hope the expanded pilot program, laws and rules will further promote cross-border investment in transportation, education, healthcare, finance and professional services," said Gavin Guo, international partner of the Shanghai-based Kewei Law Firm.