China to provide fairer business environment, Li says

China welcomes investment from all countries, including Singapore, and will make more efforts to build a more inviting business environment of fair competition for domestic and foreign enterprises, Premier Li Keqiang said on Tuesday.

China will further reform and open-up to promote high-quality development while maintaining consistency in its macroeconomic policies, Li told about 1,000 guests at a welcoming banquet hosted by Singapore Business Federation and Singapore Chinese Chamber of Commerce and Industry.

No massive stimulus will be carried out to boost the economy, instead, the government will further administrative streamlining, and reduction of taxes and fees, the premier said. He said the economy is in a stable condition and is operating within a reasonable range and has bright prospect as its fundamentals remain unchanged.

Over the past 40 years, substantial changes have taken place in China, he said. Singapore's development provides precious experiences and China provides greater opportunities for the Southeast Asian country, Li said. China would like to work with Singapore to build platforms, including regional connectivity, financial support and third-party cooperation, to elevate their trade and economic cooperation, he added.