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China to reduce restrictions on foreign investment: Xinhua

Reuters  |  SHANGHAI 

(Reuters) - will reduce restrictions on foreign investment and address difficulties facing foreign companies investing in the country, the said, according to a report by the official agency on Saturday.

said would allow full foreign ownership of companies in more areas of the economy and would reduce the number of industries in which foreign investment was restricted or barred, Xinhua reported.

He said the would push for a foreign investment law, improve the handling of complaints from foreign firms, and encourage foreign investment in and The ministry would also encourage foreigners to invest in central and western China, he said.

has been pushing to broaden opportunities for private firms and foreign investors to stimulate an economy that is slowing on the back of weakening domestic demand and a trade war with the

Zhong said "properly handling" trade frictions with the was a major task for the ministry in 2019. The report did not elaborate.

(Reporting by Andrew Galbraith; Editing by Edmund Blair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 22:34 IST