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China to modernise governance- Xi
November 14, 2013, 6:17 am

China is to relax investment restrictions and accelerate construction of free trade zones (FTZ), said a communique released after a key meeting on reform [Getty Images]

China is to relax investment restrictions and accelerate construction of free trade zones (FTZ), said a communique released after a key meeting on reform [Getty Images]

Chinese President Xi Jinping on Wednesday said “comprehensively deepening reforms” in the world’s second largest economy will not only provide a strong impetus for China’s progress but also offer opportunities to other nations around the world.

The government will continue to push forward the “reform and opening-up” policy which first began in 1978, Xi told visiting Yemeni President Abdorabuh Mansour Hadi.

“The objective of the reforms is to improve and develop a socialist system with Chinese characteristics and push on with modernisation of the country’s governing system and capabilities,” Xi said.

China is to relax investment restrictions and accelerate construction of free trade zones (FTZ), said a communique released after a key meeting on reform.

FTZs will be expanded in inland and border areas, said the document adopted at the Third Plenary Session of the 18th the Communist Party of China Central Committee held from November 9-12 in Beijing.

China’s fiscal revenues in October rose 16.2 per cent from a year earlier to 1.2 trillion yuan ($197 billion), the Ministry of Finance said on Wednesday, accelerating from September’s 13.4 per cent rise.

The critical message that emanated at the end of the Third Plenum meet was that the market is to play a “decisive role” in China’s economy.

Source: Agencies 

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