Li Keqiang Pushes for Opening Up Reforms

On July 28, Li Keqiang addressed government officials at the State Council Meeting stating that each department is responsible for opening up the market to foreign investment. After researching and debating whether to open up the market, he decided that it is good for increased competition amongst Chinese companies. The meeting called to increase foreign capital and develop more opportunities for FIEs. Openness will propel globalization, creation of rules and regulations and expand amount of foreign capital. In order to carry out this request, they will speed up work in the FTZ and negative list and will reduce taxes and fees associated with doing business in china. Li Keqiang also stressed that foreign and domestic companies should be treated the same in the registration process and the time it takes to receive registration should be equal. By the end of September, Li expects this to be fully implemented and each department should do their part to create opportunities for an increased level of foreign investment.