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Pilot program to boost business environment

Updated: Nov 25,2021 12:11

The State Council, in a circular issued on Nov 25, offered guidelines for a new pilot program on improving a market-oriented, law-based and internationalized business environment.

The program will first start in Beijing, Shanghai, Chongqing, Hangzhou, Guangzhou and Shenzhen, the circular said.

It envisions a first-class business environment in designated cities after three to five years, with institutional innovations that can spread to the rest of the country pursuing similar efforts.

The program involves further breaking down unjustified restrictions in the form of geographic segmentation and local protectionism hindering business operations.

Better standardized mechanisms, with more openness, transparency and efficiency, should be in place for businesses to enter and exit the market, including name registration.

Market entities also should have greater support in innovative development, with operations permitted in some emerging industries.

The circular stressed facilitating project investment and construction, and enhancing regular services involving enterprises with a system covering the full business life cycle, as well as mechanisms for handling complaints related to the business environment.

The circular also urged treating various market entities equally for fair competition and strengthening whole-process oversight, while lawfully protecting their property rights and other legitimate rights and interests.

Other key tasks in the pilot program include facilitating cross-border trade by promoting paperless operations and other measures, and improving service and management of foreign investment and international talent.

The circular called for adjusting applicable rules and regulations as legal guarantee, and stepping up data sharing and application of electronic certificates while advancing the program.

It also urged expanding the program to more cities as necessary and evaluating its outcomes during the process.