BEIJING, Jan. 17 (Xinhua) -- China will continue to streamline administrative approval and cut red tape to improve business environment, according to a statement released after an executive meeting Wednesday.

Premier Li Keqiang, who chaired the meeting, called for more efforts to remove barriers to market access and lower transaction costs.

Services should be improved while the supervision should be strengthened, said the statement.

All local governments should create healthy business environment for fair competition to enable market players to provide products and services of high quality.