2020年CRI China to further enhance reform, improve business environment（在线收听）

Officials with China's top economic planning agency have said that the government will further intensify reforms of the country's economic system this year, and take measures to attract foreign investment and expand opening up.

At a press conference on the sidelines of the ongoing session of the National People's Congress, deputy head Lian Weiliang of the National Development and Reform Commission announced plans to implement further economic reforms this year.

"We will focus on five aspects, which are to strengthen mixed-ownership reforms for state-owned enterprises, reforms of private enterprises, the reform of property rights protections, reforms to stimulate and protect entrepreneurship, and reforms to improve the business environment," said Lian.

The government will also advance reforms to improve the quality of supply in the service sector, and upgrade the industrial chain by promoting innovation and entrepreneurship.

"We will make efforts to accelerate the establishment of a unified, open, competitive, and orderly modern market system, fully implement the negative list system for market access, and facilitate the cycle of domestic markets and major producers. Remove institutional barriers to the social mobility of labor and talents, and open up a cycle of economic and employment growth. Improve the ability of the financial system to serve the real economy, and open up the financial and real economy cycle," added Lian.

And Ning Jizhe, who is also a deputy head of the planning agency, said China will create a better business environment for foreign investors.

"This year, the government will further shorten the negative list that outlines the fields which are off-limits to foreign investors, and launch trial projects to expand the opening up of the country's pilot free trade zones. And there will be a new list released this year outlining the industries in which foreign investment is encouraged," said Ning.

Foreign investors will also enjoy equal treatment in terms of market access in sectors outside the negative list, as well as fair treatment when it comes to government procurement.

China will also facilitate foreign investment in sectors such as new energy vehicles, advanced manufacturing, petrochemicals, electronics, and information technology.

China used 135 billion U.S. dollars of foreign direct investment last year, three percent more than the previous year.

Ning Jizhe reiterated that foreign investors' legitimate rights and interests will be protected.

The on-going second session of the 13th National People's Congress will review a draft foreign investment law, which is expected to help with China's efforts to attract more foreign investment.