China to further improve business environment
Updated: November 27, 2019 23:20 Xinhua

BEIJING — Premier Li Keqiang on Nov 27 called for efforts to take the opportunity of implementing the regulation on improving the business environment to further create a market-oriented and law-based business environment.

More efforts should be made to solve problems of various market entities in investment and operation, according to a statement released after a State Council executive meeting chaired by Premier Li.

The State Council has made public a regulation on optimizing the business environment, which will become effective on Jan 1, 2020.

Improving the business environment aims to unleash productivity and enhance competitiveness, and it is an effective measure to enhance market vitality, stabilize social expectations, cope with downward pressure and promote development and employment, according to the statement.

The meeting urged all regions and departments to introduce supporting measures and speed up elimination and revision of rules and regulatory documents that do not comply with the new regulation.

The meeting stressed the need to follow the requirements of the regulation and continue to streamline administration, delegate power, improve regulations and upgrade services.

A slew of measures will be taken, including further streamlining the examination and approval process and lowering the threshold for market access.

There will also be measures to reduce business-related charges, promote fair competition among businesses under diverse ownership, and improve government services.

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