China to further open economy

Beijing - China will further open up its economy and maintain a "balanced and sustainable economic growth" in the near future, Vice Premier Li Keqiang said.

The country is undergoing accelerating industrialization and urbanization, Li said. China will implement a "proactive" strategy to promote liberalization of the economy.

Li was addressing a function Friday to celebrate the 100th anniversary of Bank of China Ltd., the central bank, in Beijing, China Daily reported.

"Financial and other types of enterprises should seek for opportunities and participate in competition on equal basis amid the opening up," he said.

"Chinese companies could improve complementary strengths and grow together with their foreign counterparts," he added.