China to slash foreign investment limits

China will further open its economic borders to investors from abroad in a move intended to counter sliding confidence in the outlook for the world’s second-largest economy, Bloomberg reports. The nation will continue opening its education, finance, culture and manufacturing sectors to foreign investors, the vice minister of commerce Wang Shouwen said at a briefing in Beijing on Tuesday. Measures will focus on boosting investment in inland, western regions. Foreign capital utilized by the country declined by 1.6% in July. While global investors fueled China’s economic boom by building factories, shops and infrastructure in the nation since 1978, some lucrative service sectors such as finance and telecommunications are largely closed to them.