Hu: China to open more areas and sectors

China will open more areas and sectors, increase and deepen common interests with other parties, President Hu Jintao said Saturday.

Addressing the APEC CEO Summit, Hu said China will continue to pursue the basic state policy of opening-up, carry out the opening-up strategy more actively and improve the regional opening-up pattern.

"China will encourage both foreign investment in China and Chinese investment overseas", said Hu.

According to the president, China will open more areas and sectors, increase and deepen common interests with other parties and improve the institutions and mechanisms so that they are suited to the development of an open economy.

"We will continue to foster an open and transparent legal environment, an environment for fair market competition, and a stable and orderly business environment to create good conditions for investors", Hu said.

According to Hu, China will move faster to implement the?free trade area?strategy, strengthen ties with key trading partners, and deepen pragmatic cooperation with other emerging markets and developing countries.