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China vows further opening up to the world

Updated: Dec 21,2015 7:29 PM     Xinhua

BEIJING — China will continue to improve its opening up to the outside world, according to a statement issued on Dec 21 after a key economic policy meeting.

Vowing to “give equal treatment to domestic and foreign companies”, the statement of the annual Central Economic Work Conference said China will improve the business environment for foreign firms and pay attention to the protection of their legitimate interests and intellectual property.

Facing a continued economic slowdown, China is hoping to attract foreign investment by slashing restrictions, widening market access and improving the business environment.

Foreign direct investment into the Chinese mainland, excluding investment in the financial sector, rose 7.9 percent year on year to 704.3 billion yuan ($108.77 billion) in the first 11 months of the year.

International cooperation on production capacity and equipment manufacturing was also highlighted in the statement.

China will accelerate the “Belt and Road” initiative by pushing forward major projects and ensure the Asian Infrastructure Investment Bank and Silk Road Fund provide financing support, the statement said.

In addition, China will also enhance foreign trade, step up negotiations on free trade areas and investment treaties, and actively participate in global economic governance.

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