"I don't think anybody would be foolish enough to say no to China boosting imports."

Rockwell said these measures will help China's balance of trade.

China had been criticized by some developed nations over its trade surplus but ironically some countries, led by the United States, actually set export curbs on China.

"However, trade balances are largely driven by broader macroeconomic factors," said Rockwell, listing factors such as savings and consumption in particular countries.

Chinese companies will also benefit, Rockwell said.

"China is deeply integrated in global supply and production chains. To be competitive in such arrangements, companies need to be able to access imports at the lowest prices possible," Rockwell said. "Remember that tariff reductions are tax cuts, which mean lower prices for these valuable imports."

Duncan Freeman, a senior researcher with the Brussels Institute of Contemporary China Studies, said import duty reductions will help European companies in targeted sectors.

But this is only one element and providing credit to importers will also help, he said.

"China has a lot measures to adopt to ease access to its market. The bigger question will be how import demand develops," Freeman said.

This will depend on the sustained growth of the economy and rising living standards, which will create demand for technology and raw materials, as well as consumer goods, he said.

Ade Onitolo, director of Political Risk Forecasting at the London-based Exclusive Analysis, said China has already embarked on an ambitious roadmap in its 12th Five-Year Plan (2011-15) to remodel its economy.

"China made progress in this regard last year," Onitolo said.

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