China's top planner has tried to reassure foreign companies they are welcome in its slowing economy in a speech aimed at dispelling growing anxiety Beijing is squeezing them out of promising industries.

Speaking to an audience that included executives of top global companies at a government-organized conference, Xu Shaoshi pledged Sunday to "promote two-way opening up and liberalization."

The weekend event at a government guesthouse attracted foreign executives who want insight into how the ruling Communist Party will carry out its latest development plan due to run through 2020.

Business groups complain that despite promises of market-oriented reforms, Chinese regulators are trying to squeeze them out of technology and other promising industries.