China intends to further expand its market access and create favorable conditions for foreign companies to work in the country, simplify trading procedures and access to its market, said deputy chief of the office of the committee on economic and financial issues of the CPC Central Committee on Friday.

According to him, the current plenary session proposed to build a new high-level open-type economy system, to achieve comprehensive and wide openness.

As he noted openness to the outside world is the main state policy of China, and regardless of changes taking place in the international arena, China’s openness will only increase, the business environment in the country will improve, relations with the global economy will become even closer, and the latitude and the depth of mutual benefit with all countries will continue to develop. 

He noted the need to promote liberalization and simplification of trade and investment procedures, protect the rights and legitimate interests of foreign capital through fair compliance with the law on foreign investment, create conditions for fair competition of local and foreign companies in the Chinese market, strengthen the protection of intellectual property rights and trade secrets, create a high-quality business environment, governed by law.