MNI: China needs to work hard to achieve its goal....>

MNI: China needs to work hard to achieve its goal of an "all-around opening up",

Vice Premier Wang Yang wrote in an extensive article published on the official

People's Daily on Friday. How to switch from China's old growth engines to a new

growth model is the key to its economy development amid recovery of the global

economy, Wang said. China needs to better integrate the opening up of its

manufacturing and service sectors, he said. The manufacturing sector needs to

opened up further, except for some "sensitive fields," by reducing  restrictions

on the proportion of foreign ownership and the business scopes of companies

doing business in China, Wang noted. Wang stressed China needs to innovate its

outbound investment methods. Some Chinese companies' outbound investments are

unreasonable and create potential risks, so China will strengthen guidance on

investments and overseas mergers and acquisitions, he said.