China to build open economy at higher level

BEIJING -- China will enhance the level of opening-up, promote trade and investment liberalization and facilitation, and strengthen the comprehensive competitiveness of foreign trade, according to the full text of the Communist Party of China Central Committee's development proposals made public on Tuesday.

The country will improve the "pre-establishment national treatment plus negative list" management system for foreign investment, expand the opening-up of the service sector and protect foreign companies' legitimate rights and interests, the document said.

Pilot free trade zones will be granted greater decision-making power in reform while the construction of Hainan free trade port will be advanced steadily.

The document, the Party leadership's proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, was adopted at the fifth plenary session of the 19th CPC Central Committee which closed on Oct 29.