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China will open its doors to the world wider

604b76cea31024adbdbad361Growing domestic market represents 'great opportunity' for foreign investors as chinadaily informs.

China will continue to take the initiative in opening wider to the world, and the country will remain a popular destination for foreign investment and a big global market through the widening of its market access, Premier Li Keqiang said on Thursday.

"The Chinese economy has become deeply integrated with the global economy, and shutting its door to the world will lead nowhere," Li told reporters in Beijing after the conclusion of the annual session of the National People's Congress.

He explained that China's ongoing efforts to foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulation reinforcing each other mean parallel steps to boost the domestic market and expand opening-up.

China, out of its own interest, will continue to take the initiative to open wider, which will also benefit the world, he said. "The growing Chinese domestic market with rising domestic demand represents great opportunity for foreign products, services and investment."

Li pledged continuous efforts to uphold a multilateral trading system based on the rules of the World Trade Organization, saying that China will stay open and positive toward any multilateral or bilateral mechanisms that are mutually beneficial.

Li said the nation will continue to shorten the negative list on market access for foreign investors and further open its services sector.

He gave the example of China's eldercare sector, a huge market supported by the nation's elderly population of 260 million, saying that the sector will surely create more opportunities for products, services and investments from foreign businesses with its sheer size and openness.

Li said that the economic growth goal of over 6 percent set by the nation this year "is not a low target" as the government seeks to guide expectations to consolidating the foundation of economic recovery, promoting high-quality development and maintaining the sustainability of policies.