China welcomes foreign investment and will continue to open up to the world, Vice Premier Liu He said, addressing world leaders in Davos.

China will always promote all-round openness and raise the level and quality of openness, he said.

Foreign investment is welcome in China, and the door to China will only open, he added.

In his remarks, Liu He referred to the Chinese authorities' efforts to resolve the liquidity crisis that has haunted the real estate sector since mid-2020 and said the country would continue to encourage entrepreneurship and support the private sector. He said Beijing was confident that China's economy is likely to return to its normal growth trend in 2023, and expects imports, corporate investment and consumption to increase.

Liu He said the world needs to abandon the Cold War mentality and strive to strengthen international cooperation.

Asked by WEF founder Klaus Schwab about the current COVID situation in China, Liu He said it is now stable and called the speed at which people are recovering a surprise.