He made the pledge in a speech delivered at the business summit of the Asia-Pacific Economic Cooperation (APEC) forum which opened Thursday in Australia's largest city of Sydney.

Hu is on a state visit to Australia and will attend the 15th APEC Economic Leaders' Meeting, scheduled for Saturday and Sunday.

Since its accession to the World Trade Organization, China has honored its commitments in good faith. It has adjusted its trade policy in keeping with the WTO rules, Hu said.

In the five-year transitional period, China has drastically cut its average tariff, which has dropped from 15.3 percent upon accession to the present 9.9 percent. The level of openness of its service trade sector is approaching that of developed countries, and this has made China one of the most open service markets in the world, he added.

"We will continue to implement a win-win opening up strategy and support the establishment of a fair, open, equitable and non-discriminatory multilateral trading regime," said the Chinese president.

"We are committed to pursuing development in an open environment and achieve common prosperity of all countries through mutually beneficial cooperation," he told the business leaders.

As one of the APEC meetings, the two-day APEC business summit will focus on trade, market and structural issues as well as energy, clean development, climate change and education.