China will reduce restrictions on foreign investment and address difficulties facing foreign companies investing in the country, the commerce minister said, according to a report by the official Xinhua news agency on Saturday. Commerce Minister Zhong Shan said China would allow full foreign ownership of companies in more areas of the economy and would reduce the number of industries in which foreign investment was restricted or barred, Xinhua reported.
He said the Commerce Ministry would push for a foreign investment law, improve the handling of complaints from foreign firms, and encourage foreign investment in manufacturing and high tech. The ministry would also encourage foreigners to invest in central and western China, he said.