MNI BRIEF: China To Focus On Opening Service Sector

China should focus on further opening up its services sector, particularly by reducing the negative list for foreign investment, said Wang Yiming, vice chairman of the China Center for International Economic Exchanges during the China Development Forum in Beijing on Monday. 

China should actively align itself with high-standard international economic and trade rules, while creating a market-oriented and law-based business environment, said Wang, noting that the country’s actual use of foreign capital exceeded CNY20 trillion last year. (See MNI INTERVIEW: German FDI In China To Remain Robust Next Year)

Meanwhile, China should expand the opening of government procurement, including clarifying standards for domestically produced products, said Wang.