Private firms able to play a bigger role

Premier Li says govt will cut more red tape

Premier Li Keqiang vowed on Monday to broaden private firms' market access and cut redundant administrative approvals amid "persistent downward pressure".

"We will further open the door for private capital. We will give private firms more investment options and a bigger stage on which the creativity of all 1.3 billion Chinese people can be fully unleashed," Li told a group of executives from State-owned and private enterprises.