President Xi Jinping said Tuesday that China will create a more attractive investment environment for foreign companies.

"The investment environment is like the air. Only clean air can attract more foreign capital," Xi said in a keynote speech at the opening ceremony of the Boao Forum for Asia.

Xi said that China will improve rule transparency, strengthen property rights protection, and continue to adhere to the rule of law, encouraging competition and opposing monopolies.

China has carried out a major revamp of government institutions this year and established new agencies such as the creation of a state market regulatory administration.

Xi said the purpose is to remove systemic and institutional obstacles that prevent the market from playing a decisive role in resource allocation, and to enable the government to serve a better function.

Xi added that the government will complete the revision of the negative list for foreign investment this year and will fully implement the management of foreign investment based on the system of national treatment plus a negative list.