China is likely to import about $10 trillion worth of commodities and services in the next five years to boost domestic consumption, said Chinese premier Li Keqiang on Monday during a meeting with business leaders of major companies who attended the China Development Forum in Beijing.

The Chinese government will ensure foreign businesses fair access to the market and a level playing field in terms of competition, Li said, promising a further opening up of services and industries related with energy-saving and environmental protection.

Representatives and executive officers from about 100 multinationals attended the two-day China Development Forum. They submitted a report on how foreign businesses could get involved in facilitating the world's second-largest economy in achieving sustainable and stable growth amid the European debt crisis.

"The nation needs to promote domestic consumption through continuing to open up its markets," Li said.

The nation will prioritize opening up its service sector to foreign companies. Energy-saving and environmental protection are other key areas where domestic companies lag behind their foreign peers and requires "cooperation" with them, according to Li.

Li Keqiang was endorsed as Chinese premier earlier this month at the first session of the 12th National People's Congress (NPC), the country's top legislature.

As part of the 12th Five-Year Plan (2011-15), the government has vowed to expand domestic consumption to help the nation transform its economic growth model away from an overreliance on exports.

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