China will substantially cut the number of sectors not open to foreign investment as it seeks fairer treatment for Chinese firms investing overseas, China's central bank governor Zhou Xiaochuan said on Sunday.

Zhou Xiaochuan, speaking during the Boao Forum for Asia, said that when China opens wider, "we want China to get fair treatment overseas".

Zhou Xiaochuan, governor of the People's Bank of China, speaks during a press conference held on the sidelines of the annual meeting of China's National People's Congress in Beijing in March 2017. Credit:AP

He added that Beijing was waiting on the new United States administration to see how to move forward on trade and investment negotiations.