China promises a more open economy and lures companies to Beijing

At a development forum in Beijing, Chinese Premier Li Qiang pledged to further open up the economy and fully apply equal treatment to foreign firms. Beijing appears to be trying to reassure investors and trading partners at a time of rising global tensions.

Li stressed that China wants to promote quality growth and create a favorable business environment so that foreign companies can develop more confidently in the country. He also announced more imports of quality goods and efforts to balance trade with partners.

The annual two-day forum serves as a showcase for Beijing's economic plans and investment opportunities. This year's forum takes place against a backdrop of controversy over China's record trade surplus of $1.2 trillion.

The event brings together the heads of major companies including Apple, Samsung, Volkswagen, Siemens and Novartis. Li also described China as a pillar of security and stability for the world economy.

(reuters, mja)