China is to relax investment restrictions and accelerate construction of free trade zones (FTZ), said a communique released after a key meeting on reform.

FTZs will be expanded in inland and border areas, said the document adopted at the Third Plenary Session of the 18th the Communist Party of China Central Committee held from Nov. 9 to 12 in Beijing.

New policies will apply both to domestic and international ventures, with the strategies of "bringing in" and "going global" combined to adapt to globalization, the communique said, while calling for an orderly, free flow of international and domestic factors, efficient allocation of resources and deep market integration.

Cultivation of new competitive advantages will be a priority, to participate in and lead international economic cooperation, it said.