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Premier Li Keqiang used a special meeting with key international business leaders at the World Economic Forum to announce a number of reforms aimed at stimulating further investment in the Chinese economy.
During the dialogue, Premier Li explained that China’s reform priority was to balance the government-market relationship. He also committed to further administrative reforms aimed at creating a level playing field for all market entities, to improving transparency in government budgets, and increasing government spending on public goods and services.
Social inclusion would be promoted, the premier said, through the development of a multilevel capital market. Meanwhile, foreign investors heard that China would open its services sector and lower the threshold for foreign investment in China.
Premier Li also resolved to contribute to the stability of the global financial system through an expansion of renminbi (RMB) settlement in cross-border trade and investment, as well as offshore RMB businesses.