China to expand market access, ensure level playing field for foreign investors

BEIJING -- China will continue to relax market access and provide a level playing field for foreign investors, the country's top economic planner said Thursday.

The country will shorten its negative list for foreign investment in a reasonable manner, and scrap all restrictions for foreign investors entering the manufacturing industry, said Li Chao with the National Development and Reform Commission at a press conference.

While revising or repealing laws and regulations that are inconsistent with the country's Foreign Investment Law and regulations on improving the business environment, the country will also promote fair competition in areas such as procurement, tax and fee cuts, and licensing and project approval, Li said.

China will step up policy support for major projects funded by foreign companies, with coordinated efforts to address issues concerning land use, environmental assessment and energy consumption, Li said.

Work will also be done to launch more activities to promote global cooperation, and bridge transnational companies and local investment projects, according to the official.

"We welcome investors from all over the world to invest and thrive in China, and as always, we will provide a favorable business environment and convenience for their production and operation here," Li added.