GUANGZHOU, March 28 -- China's high-quality development, which is characterized by accelerated innovation, coordinated urban-rural and regional development, expanded consumption and upgraded industries, will offer foreign businesses broader room for development, China's Vice Premier He Lifeng said on Tuesday.

China will promote its high-standard opening-up in a steadfast manner, implement supportive policies for foreign companies, and continue to build a sound business environment, He said at the "Invest in China Year" launch ceremony.

China will not change its policy on foreign investment and will make greater efforts to attract investment, He said.

Stressing the significance of the country's unchanged sound economic fundamentals, He said the economy is seeing notable recovery and various pro-growth policies are taking effect.

"It is the right time for foreign companies to increase their investment in China," He said.