China will further ease market access for foreign investors, strengthen IPR and implement foreign investment law, said Liu Kun, China's finance minister, according to a statement released Sunday.
Liu's comments were made during a recent ministerial luncheon at the 99th Development Committee co-hosted by the World Bank Group (WBG) and International Monetary Fund (IMF) in Washington DC.
As the world economy slows, downside risks are on the rise, challenging international development and cooperation, Liu explained.
Liu called for the WBG to continue improving trade systems citing the organization's status as a vital multilateral development institute.
China's economy is moving from a high-speed gain mentality to one characterized by high-quality growth, as the country's the economic structure experiences upgrades while strengthening domestic demand. Economic growth figures for Q1 showed strong results due to government policy boosts, Liu said.
To meet self-development needs and attract foreign investment, China will implement larger-scale of tax cuts and fees deduction to create a better business environment, Liu added.
Chinese Premier Li Keqiang said last month at the annual Boao Forum for Asia that China will shorten its negative list and open-up even more to foreign investment, the Xinhua News Agency reported.
"We shall treat enterprises of all types of ownership equally and ensure fair play and common development among Chinese and foreign businesses with impartial supervision," Li said.
