BEIJING — China has streamlined administration, delegated power, improved regulation and upgraded services to improve its business environment, Premier Li Keqiang said on March 11.

Over 1,000 items for administrative approval had been canceled or delegated to lower-level authorities, and all items for nonadministrative approval had been eliminated, Premier Li told a press conference after the country's annual legislative session.

With the business environment constantly improving, the number of market entities in China has reached 150 million, up by 100 million from a decade ago, the Premier said, adding that the majority of them are private companies.

The Premier also noted that China will strengthen supervision over sectors that are closely related to the health and interests of the people, and will improve oversight and regulation of new business models and forms to enable all market entities to compete and develop in a fair and just environment.