China simplifies investment climate and halves number of restricted sectors

Chinese Premier Li Keqiang

China simplifies investment climate: China is to open more economic sectors for foreign investment and will simplify rules for investment, Chinese Premier Li Keqiang said at the opening of  the annual session of the National People’s Congress. The number of sectors with restrictions on foreign investment would be cut by half, he said.”We must achieve a new stage of openness, speed up the construction of a new open economy.” He also unveiled a lower growth target of 7.5% for 2015 and pledged tighter environmental controls.