China will open even wider to imports and investment, fully opening the manufacturing sector to foreign competitors and cutting tariffs on more imports, Chinese Premier Li Keqiang said Tuesday.[Special Coverage]
Li said at a news conference right after the closing meeting of the annual session of the 13th National People's Congress that the Chinese economy is so integrated into the global economy and closing the doors would only block China's own way.
"If there is something that will be different from the past, it will be that China will open even wider," Li said.
China will lift the foreign-owned equity limit in some areas and the country will fully open up the manufacturing sector.
"There will be no mandatory requirement for technology transfer, and intellectual property rights will be better protected," Li stressed.
The premier also said the country plans to eliminate import tariffs on drugs and reduce tariffs on other imported goods.