It is time the "China threat theory" was laid to rest, Chinese Foreign Minister Wang Yi said Thursday.

Those who do not have bias or practice double standards will see in China not a threat, but plenty of opportunities, Wang told a press conference on the sidelines of the national legislature's annual session.

"As China grows, the 'China collapse theory' has collapsed and become an international laughing stock. Meanwhile, the 'China threat theory' with its various sensational versions is losing market," he said.