Foreign investors encouraged, says Premier

Premier Li Keqiang greets US Senator Dick Durbin, a member of a delegation organized by the Aspen Institute, at the Great Hall of the People in Beijing on March 31, 2016. [WU ZHIYI / CHINA DAILY]

Premier Li Keqiang said China will ramp up efforts to nurture a fairer environment for market competition and will bolster intellectual property rights protection to attract more foreign investment, including from the United States

Li made the remark during a meeting on Thursday with a US delegation organized by the Aspen Institute, a Washington-based US think tank, at the Great Hall of the People in Beijing.

The delegation was composed of 18 US senators and members of the House of Representatives.

Li emphasized that China and the US-the world's largest developing country and the largest developed country-have far greater common interests than differences. The two need to handle differences of opinion well to maintain the steady and sound growth of Sino-US relations.

He also said that China is willing to work hard with the US to advance negotiations on a China-US bilateral investment treaty, which is expected to better benefit economic and trade activities between them.

Legislators from the US states of Illinois, Delaware, California and Nebraska shared their thoughts with Li on wide-ranging topics, such as Sino-US relations, and China's economic development and business environment. They agreed that China's development also presents opportunities for the US.

The Aspen Institute, headquartered in Washington DC, is an organization that focuses on fostering leadership and open-minded dialogue.

Xue Lan, dean of the School of Public Policy and Management at Tsinghua University who had received training at the Aspen Institute, said think tanks such as the Aspen have often visited China, yet were rarely received by Chinese leaders such as the premier.

"It is important, especially for foreign legislators, to meet with Chinese leaders so all can get a clearer understanding of the other side," Xue said.

Zhao Chen, an IPR expert at the State Intellectual Property Office of China, said protection of property rights in China requires more specific regulations in order to increase overseas investment.

"Foreign investors currently face restrictions in some trading areas that force them to find Chinese partners," Zhao said. "The creation of more comprehensive policies is needed to dispel their concerns."