Chinese Premier Li Keqiang speaks during a session of the World Economic Forum, also known as Summer Davos Forum, in the Chinese port city of Tianjin on Tuesday. The annual meeting runs until Friday. Photo: AFP

The recent antitrust investigations in China do not target any specific company but aim to provide a fair business environment, Premier Li Keqiang said Tuesday in a gesture to appease concerns over the fairness of recent probes in China.

China's economic growth is within a reasonable range and the country can meet its major economic targets although short-term fluctuations may be expected in the second half of the year, Li said.

He made the remarks ahead of the three-day Annual Meeting of the New Champions 2014 World Economic Forum, also known as the Summer Davos Forum, which opens Wednesday in the North China city of Tianjin.

Speaking to business leaders in Tianjin, Li said the antitrust investigations and crackdown on trade secret thefts as well as intellectual property rights infringement are not selective and have not targeted any specific firm. He added that foreign firms only account for 10 percent of those involved in antitrust probes.  

The government supervision, including the antitrust probes, is transparent, fair and conducted according to law, said Li, adding that a fair business environment is conducive to China's drive to open more widely to the world and allow more foreign investors and products to enter China.

Li's remarks, the highest level of comment on the issue, come amid a series of high-profile anti-monopoly investigations into foreign firms, including Microsoft and Qualcomm. In August, the country's antitrust regulator also handed down heavy fines to 12 Japanese car-part makers for anti-competitive practices.

The probes and penalties have led to anxiety among foreign business groups, including the EU and American chambers of commerce in China, over whether the probes are unduly targeting foreign firms. 

"China will continue to open up more to the world, including easing access to service and manufacturing sectors. We also hope companies which invest and conduct trade in China can observe the law and pricing regulations reasonably so consumer rights can be protected," Li said. 

Chinese authorities have  said on a number of occasions recently that the probes apply to domestic and foreign firms.

In the latest move, the National Development and Reform Commission, one of the country's antitrust regulators, announced Tuesday it will fine three domestic cement makers 114 million yuan ($18.6 million) for price-fixing. 

"Foreign firms have long been given preferential treatment and thus may not be prepared for stricter enforcement of the antitrust law, which will be normalized in China in the future," Wang Jun, an economist at the China Center for International Economic Exchanges (CCIEE), told the Global Times Tuesday.

"But stricter enforcement does not mean China's attitude toward foreign investment has changed," Wang said.

"One of the reasons that foreign firms are concerned about China's business environment is that the competitiveness of domestic firms has improved quickly over the years, which overshadows foreign firms," Jin Baisong, a research fellow at the Chinese Academy of International Trade and Economic Cooperation told the Global Times Tuesday. 

Commenting on China's economy, Premier Li also said Tuesday that the nation's 7.4 percent economic growth, good employment situation as well as 2.3 percent inflation rate in the first half of 2014 means that China's economy is operating within reasonable margins.  

China will continue its prudent monetary policy and "targeted control measures" instead of using credit easing to boost its economy, Li said, noting China is on track to achieve its major economic target despite some fluctuations.

China's economy has experienced a bumpy ride in the first half of the year. Hopes that China's economy may rebound in the second half were diluted as mixed economic data continues to cloud expectations.

"Li's remarks show he is quite confident in China's economy. Due to high bases during the third quarter of last year, China's economic indicators in the third quarter may be slightly lower than in the second quarter," Wang from CCIEE said.

But a growth rate between 7.3 and 7.6 mean that the economy is within normal parameters. Targeted measures on more sectors may be expected in the second half, Wang said.