Chinese Parliament holds annual session opening doors to foreign investors

China is holding its annual parliamentary congress and delegates have greeted with enthusiasm the Communist party’s proposal to end presidential term limits.

The 13th National People’s Congress, China’s national legislature, opened its first session Monday morning at the Great Hall of the People in Beijing. Xi Jinping and other Chinese leaders attended the opening meeting.

One of the highlight of the first day of the Congress, China will open doors wider to foreign investors this year by completely opening up its general manufacturing sector and expand access to a number of other sectors, Chinese Premier Li Keqiang said Monday.

Foreign investors will have wider access to sectors like telecommunications, medical services, education, elderly care and new energy vehicles, said Li when delivering a government work report to the first session of the 13th National People’s Congress. “We will make market entry standards the same for both Chinese and foreign banks,” he said.