March 21, 2017 11:19 AM

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China to further open services, industries to outside world: Chinese Premier Li Keqiang

Chinese Premier Li Keqiang said the country will further open its services, manufacturing and mining sectors to the outside world, even as foreign enterprises struggle with protectionist policies. The premier's comments come as President Xi Jinping seeks to project China as the world's leading free trade advocate and despite recent observations from some foreign firms that they are less welcome in China now than they were in the past.<br/><br/>Mr. Li yesterday said, that China will streamline administrative procedures for foreign investments and ensure a level playing field for companies registered in the country, the premier said this at a meeting held during the China Development Forum in Beijing. He informed that China supports foreign-funded firms to list and issue bonds in the country and participate in national science and technology programs and infrastructure projects.<br/><br/>He invited more foreign companies to invest in China, co-operate with Chinese enterprises and engage in development opportunities. Li said he hopes other countries overcome issues and friction caused by globalisation by communicating effectively. Among the attendees were HSBC Chief Executive Stuart Gulliver, former U.S. Treasury Secretary Lawrence Summers and Apple CEO Tim Cook. Mr. Li's comments contrast with those of a senior minister on Sunday who said China's policy of restricting market access is important for domestic growth.

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