China welcomes foreign companies to join in its development: premier

Chinese Premier Li Keqiang said on Tuesday that China welcomes foreign companies to join in its modernization and will create a market environment for fair competition.

Li made the remarks while meeting with CEOs and presidents of 14 of the world's top corporations including Goldman Sachs, Nokia, Pfizer, Standard Chartered Bank and Volkswagen at the 3rd round table summit of the Global CEO Council.

To sustain economic growth, which slowed to a six-year low of 7 percent in the first quarter, the Chinese premier is paying close attention to mass entrepreneurship and innovation.

Li said support of mass entrepreneurship and innovation will inject new growth to China's economy, and upgrade the economy to a medium-high level of development and maintain the growth at a medium-high speed.

China is undergoing a new round of high-level opening-up, said Li, adding that the government will take more measures to ensure fair competition.

China will further expand the opening-up of high-end manufacturing and service industry, he said.

China has cost-effective equipment, while the developed countries have advanced technologies, he said.

The Chinese government expects companies with competitive advantage to cooperate with western companies to develop the third-party market, so as to realize mutual benefit and win-win, he said.

The CEOs and presidents voiced their opinions over topics including the "Made in China 2025" plan, China's financial policy, streamlining administrative procedures, mass entrepreneurship and innovation, and China's investment environment.

The summit is hosted by the Chinese People's Association for Friendship with Foreign Countries. Endit