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SEOUL, March 21 (Xinhua) -- Chinese Foreign Minister Wang Yi said here on Saturday that more efforts should be made to promote healthy and sustainable development of the trilateral cooperation between China, South Korea and Japan.

Wang made the remarks during an inspection tour on Friday and Saturday in central province of Henan.

He said the government should streamline administration, speed up taxation reform and reform of state-owned enterprises, encourage innovation and entrepreneurship and play a bigger role in economic planning, coordination and infrastructure, rather than direct investment and manufacturing.

The implementation of the initiatives won't be an easy task, analysts said, citing terrorism and domestic politics of countries involved in the initiatives.

More than 1,000 investment agencies fund entrepreneurs in China, holding a capital sum of over 350 billion yuan (56.8 billion U.S. dollars), said Wan Gang, minister of science and technology, on Wednesday at a press conference on the sidelines of the national legislature's annual session.