China premier vows opening to foreign investors

Chinese Premier Li Keqiang speaks with global corporate leaders at the Annual Meeting of the New Champions of the World Economic Forum in Dalian, Liaoning province on September 9, 2015. [Photo provided to China Daily]

DALIAN -- China will make it easier for foreigners to invest in its industries, Premier Li Keqiang vowed on Wednesday, at the annual summer meeting of the World Economic Forum.

Foreign direct investment in China remained robust at 7.7 percent during the first half this year amid a sluggish global economy, Li said in the Northeastern Chinese city of Dalian.

China is striving for a level playing field for both Chinese and foreign firms as the economy is seeking to tap innovation from all sources for more sustainable growth.

The government has halved the number of industries that are off limit to foreign investors, and has cut red tape for foreign companies, according to the premier.

It is negotiating with the United States and European Union over bilateral investment treaties based on the "negative list" approach of clearly-stated banned practices.