China will continue to take the initiative to open its economy wider while expanding domestic demand, keeping itself a "big market to the world", Premier Li Keqiang said on March 11.
The country's pursuit of the new development paradigm, whereby domestic circulation is the mainstay while domestic and international circulations support each other, does not mean China will shut its door to the rest of the world, Li said.
Instead, the new development paradigm aims to both boost the domestic market and open the market wider, which is in the interest of China itself and represents great opportunity for foreign products, services and investments, Li said.
"The Chinese economy has become deeply integrated into the global economy. Shutting its door to the world will lead nowhere," Li said.
"We believe through the process of expanding domestic demand and further opening-up, China will remain a popular destination for foreign investment and a big market to the world," he said.
Specifically, China will further cut the negative list on market access for foreign investors, open up the services sector, optimize its business environment and hold a positive and open attitude toward multilateral and bilateral mechanisms that are mutually beneficial, Li said.
Li made the remarks at a news conference on Thursday, held after the closing meeting of the fourth session of the 13th National People's Congress, China's top legislature.