China to deepen financial reform, open to more foreign investment

BEIJING/SHANGHAI : China will deepen financial reform and improve its regulatory regime to guard against risks to the economy, and further open up to foreign investment, Premier Li Keqiang said on Sunday.

China has stepped up its efforts to cope with financial risks as the economy grew by just 3 per cent last year, one of its worst showings in decades. The economy was squeezed by three years of COVID restrictions, a crisis in its property sector, a crackdown on private enterprise and weakening demand for Chinese exports.

To promote economic growth, China's top planning agency also said on Sunday the country will advance reforms in key areas and continue to open up to foreign investment.

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