The Global Business and Law Conference was held on Sept 22 and 23 in Beijing. Cai Dafeng, vice-chairman of the Standing Committee of China’s National People's Congress, attended and addressed the opening ceremony.

Cai said that Chinese President Xi Jinping reiterated China's resolve to advance high-level opening-up and important initiatives thereof in his speech at the celebration of the 70th anniversary of the founding of the China Council for the Promotion of International Trade and the Global Trade and Investment Promotion Summit in May last year.

China attaches great importance to the role of the rule of law in consolidating foundations, ensuring stable expectations, and delivering long-term benefits, and adheres to the law-based governance as a means to solve the current problems faced by the world economy, he said. Cai called for joint efforts of the global business and legal communities to improve global governance, promote high-quality development of international trade and investment through the rule of law, and contribute to building an open world economy.

Jean Chretien, former Canadian prime minister, and Wang Binying, deputy director-general of the World Intellectual Property Organization, delivered speeches at the ceremony. Nearly 500 representatives from domestic and foreign business and legal communities participated in the event.