China to further promote innovation and entrepreneurship

A guideline was approved at a State Council executive meeting chaired by Premier Li Keqiang on July 12 to further enhance the support for innovation and entrepreneurship.

China will establish an integrated digital business license registry, and enable one-stop registration for foreign enterprises and their domestic counterparts within a given time frame for due procedures.

The meeting also decided to explore and establish a system to transform scientific results into products through proper funding support in strategic emerging industries.

And the government will support local corporate banks to establish small and micro-bank branches that offer inclusive financing services.

In addition, related departments are required to expand the autonomy of various innovative entities in talent motivation.

Details>>China to further promote innovation and entrepreneurship

China to publish draft regulation on express delivery for public opinion

The executive meeting held on July 12 decided to solicit public opinions on a draft regulation for the express delivery industry, with efforts to standardize and promote industry development and reduce logistics costs.

One focus is placed on better road transportation through improved traffic administration and law enforcement to enable better services while cutting red tape.

China issues national nutrition plan (2017-2030)

The State Council issued a plan (2017-2030) on July 13 to improve national nutrition and health.

The plan sets detailed goals for 2020 and 2030, such as cutting anemia rates among children under 5 and pregnant women, cutting the prevalence of stunted growth among children under 5, and raising the breast-feeding rate among infants under 6 months old.

The plan also sets goals to narrow the gap between rural and urban students’ height, control students’ obesity rate and promote nutritional therapy among hospital patients.

Details>> China issues national nutrition plan (2017-2030)

China to cut banking service fees

NDRC and the China Banking Regulatory Commission jointly released a circular on removing six items of banking service fees for people who withdraw cash from banks in regions other than their home town, which will take effect on Aug 1.

And commercial banks are also required to inform their customers that they can apply for a free bank account through their websites, mobile phones or app. For customers who don’t apply, banks should take the initiative to exempt them from annual fees or account management fees for their main bank account.

China to enhance security measures in medical sector

The National Health and Family Planning Commission and two other departments jointly released a guideline to reinforce efforts to crack down on illegal acts that disturb the security work in the medical sector.

The move is aimed at guaranteeing the security order in the sector and imposing punishment on illegal activities.

According to the guideline, medical institutions should improve their medical service and enhance security measures while establishing security teams to cope with emergencies.

China to further promote system reform of collectively owned rural assets

The Ministry of Finance and State Taxation Administration released a notice on preferential tax policies for pushing forward the system reform of collectively owned rural assets.

And it listed four kinds of rural collective land and assets that can be entitled to the benefits.

China to promote use of electronic invoices in major cities

The Ministry of Finance released a circular on promoting the reform of management for electronic invoices and will launch tests in several major cities, regions and central government units, including Beijing, Heilongjiang, Zhejiang and Fujian.

And business covered by the service will include online examination registration, traffic fines, education fees and medical charges.

China to overhaul car insurance sector

The China Insurance Regulatory Commission released a notice on the overhaul of the car insurance market, clarifying that insurance companies should not lower auto insurance rates and offer any extra bonuses that are not part of the insurance contract. Illegal acts will be punished according to their severity.