China to scrap restrictions on foreign participation in some services

China will scrap restrictions on foreign participation in some service sectors including building design and accounting and auditing, the government said as it unveiled a draft of its new five-year development plan at the annual meeting of parliament. China will also allow more foreign investment into the banking, insurance, securities and elderly care sectors, the government said on Saturday. China's 13th five-year plan is a blueprint for economic and social development between 2016 and 2020.