China vows renewed support for private firms and foreign investors

Premier Li Qiang promised in his speech to remove restrictions on foreign investment in manufacturing and allow wider foreign participation in telecom, medical sectors and government procurement.

The speech aimed to revive confidence among private and foreign businesses which have complained of uneven playing field and policy unpredictability.

Concrete policy steps, not just words, are needed to regain the lost trust of private and foreign investors.

The private sector, which employs majority of workforce, struggled last year. The premier promised support through better access to loans and bonds.

Stakeholders want to see strong implementation of promised policies like equal treatment law for private firms, instead of just commitments.