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Vice-premier promises foreign firms fair treatment

Updated: Dec 5,2015 9:18 AM     Xinhua

Vice-Premier Wang Yang addresses a seminar of the American Chamber of Commerce in China, in Beijing, capital of China, Dec 4, 2015.[Photo/Xinhua]

BEIJING — China will create a level playing field for domestic and foreign companies and make foreign investment in the country easier, Vice-Premier Wang Yang pledged at an annual gathering of the American Chamber of Commerce in Beijing on Dec 4.

Wang said China will strengthen protection of intellectual properties and commercial secrets and make regulations more transparent.

On reforming rules on foreign investment, he said China will focus in particular on easing entry into the service sector.

“Opening up is the only way for a country to develop,” Wang said, stressing that China needs foreign enterprises to play a more active role as it becomes more integrated with the world.

The vice-premier also called on foreign firms to keep pace with development trends sweeping China. Innovation and green growth, for example, are key concepts in China’s proposal for the 13th Five-Year Plan (2016-2020).

“The economy will be pushed to a healthier and more sustainable trajectory as a result, which offers new opportunities for businesses but old-fashioned ones could be left behind,” Wang said.