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Premier stresses need to nurture market entities, boost market vitality

Updated: August 30, 2022 06:55    Xinhua

BEIJING — Premier Li Keqiang on Aug 29 called for efforts to help market entities thrive and to spur market vitality as well as social creativity.

Premier Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks at a teleconference on deepening reforms to streamline administrative approval, delegate power to lower levels, and improve regulations and services.

Premier Li also called for unremitting efforts to create a market-oriented, law-based and internationalized business environment.

Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, presided over the meeting.

Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, speaks at a teleconference on deepening reforms to streamline administrative approval, delegate power to lower levels, and improve regulations and services, Aug 29, 2022. Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, presided over the meeting. [Photo/Xinhua]

Such reforms require the country to scrap administrative burdens, promote fair competition, and provide more freedom and convenience for business startups, Premier Li said.

The Chinese government has accordingly focused on simplifying administrative procedures for the manufacturing and general services industries. It has also toughened its crackdown on monopoly and protected the legitimate rights and interests of market entities, according to the Premier.

The reality has shown that the reforms have contributed to eliminating impediments to development and stimulating market vitality as well as public creativity, he said.

Commenting on China's economic recovery, Premier Li said that the economy was impacted by unexpected factors in the second quarter and the task of shoring up recovery fundamentals remains arduous.

The country has rolled out a slew of measures to stabilize the economy this year, Premier Li said. He noted that these measures, as well as the aforementioned reforms, must be put in place so as to keep the economy operating within an appropriate range.

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