Chinese and foreign companies treated as equals: Premier

Chinese authorities are vowing to "create a fair and impartial market environment where Chinese and foreign companies are treated as equals and engage in fair competition."

Chinese Premier Li Keqiang delivers the annual government's work report to the second session of the 13th National People's Congress in Beijing on March 5, 2019. [Photo: Xinhua]

Chinese Premier Li Keqiang has made the pledge when delivering the annual government's work report to the opening meeting of the second session of the 13th National People's Congress (NPC), China's national legislature, on Tuesday, March 5, 2019.

"More and more business opportunities for foreign companies in China are a sure thing," said Li Keqiang.

"We will further relax controls over market access, shorten the negative list for foreign investment, and permit wholly foreign funded enterprises to operate in more sectors……We will strengthen efforts to protect foreign investors' legitimate rights and interests," said Li in his report on behalf of the State Council to the legislature.

The ongoing plenary session of NPC is scheduled to review the latest draft of China's Foreign Investment Law on Friday, according to Zhang Yesui, spokesman for the second session of the 13th NPC.

"This is fundamental change in China's foreign investment management system, and helps create a more open, transparent and predictable environment for investors and provides stronger legal guarantees for China's new opening-up," said Zhang.