It is reported that China’s leaders pledged Friday to open state-dominated industries wider to private competition and ease limits on foreign investment in e-commerce and other businesses in a sweeping reform plan aimed at rejuvenating a slowing economy.

More openness to global markets is the key part in the “Third Plenum”  conference called on Friday. In this conference, the Chinese government clearly demonstrated that China is willing to open wider to foreign investors. It is true that China should not stick in the mud anymore in order to develop its economy forward. In case Chinese economy stagnates, the restrictions on overseas investors only hold Chinese economy back. Now, sectors, such as finance and education, to foreign, that were previously monopolized by domestic firms are gradually opened to foreign firms. Foreign and domestic businesses are to be treated on equal terms under the Chinese legal system. Also, the government said it would  select several qualified areas, in addition to the pilot program in Shanghai, to develop free trade parks, ports or zones. With more open government regulations, I believe that numerous foreign investors would be attracted by the big, potential Chinese market.

http://www.ctvnews.ca/business/china-promises-to-open-markets-wider-to-private-competition-in-reform-plan-1.1544543