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China to continue opening up to aid economic transition: Premier

(Xinhua)    15:03, June 27, 2016

Chinese Premier Li Keqiang addresses the opening ceremony of the annual Meeting of the New Champions, also known as the Summer Davos Forum, in China's northern coastal city of Tianjin, on June 27, 2016. This year's meeting carries the theme: "The Fourth Industrial Revolution and Its Transformational Impact." [Photo: CRIENGLISH.com]

TIANJIN, June 27 -- China will continue opening up its service and general manufacturing sectors and keep the renminbi generally stable within a reasonable and proper range, Chinese Premier Li Keqiang said Monday.

China will open wider to the outside world, improve its open economy, further open up the service and general manufacturing sectors and build a fairer, more transparent and predicable investment environment for foreign investors, Premier Li said while addressing the opening ceremony of the Annual Meeting of the New Champions 2016, or Summer Davos.

China will give equal treatment to domestic and foreign businesses alike, Li added.

China will maintain a managed floating foreign exchange mechanism that is market-based and adjusted in reference with a basket of currencies, Li said, adding that Chinese economic fundamentals eliminate the possibility of long-term yuan devaluation.

Li pointed out that China will continue to adhere to the road of peaceful development, pursue a mutually beneficial and win-win opening-up strategy, and is ready to promote growth in an inclusive, balanced, green and sustainable manner with other countries.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Bianji)

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