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Wang Yang promotes opening-up policy

Mo Jingxi
Updated: Aug 29,2014 5:06 PM

Vice-Premier Wang Yang said that China’s opening-up to the outside world is of great significance - and the authorities should continue their efforts, especially amid the current global situation.

Wang made the remarks on Aug 28 at a ceremony marking the end of a seminar on investment negotiations between China and other countries.

He said investment treaty negotiations will help China in its efforts to develop an open economy.

And, as the country deepens its reform, Beijing should adapt to economic globalization and its new role in the international arena - with more confidence in its own system and culture.

China should launch new opening-up initiatives to facilitate its ongoing administrative reform and industrial restructuring, thus contributing to the country’s long-term development, Wang said.

The vice-premier said accelerated negotiations are key to attracting foreign investment, boosting investment abroad, and upgrading economic progress - and will also give China a stronger voice concerning new rules for international investment.

Wang called for increased efforts to speed up market reform, streamline administrative approvals, and establish a sound supervision system.

He also called for improving market access for foreign investment, reform of foreign investment management, more open and transparent market rules, better protection for intellectual property rights - and the creation of a more international and legal environment for doing business in China.

Wang added that there should be more studies on the rules of international investment in order to assess the positive and negative impact of investment negotiations on China.

He stressed the importance of talent training, adding that China should cultivate many interdisciplinary talents who have a good understanding of policies, and domestic and international laws and regulations.