China 2023-08-15T05:55:22+03:00
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China takes further steps to streamline administration, improve business environment

China takes further steps to streamline administration, improve business environment

reforms, economy, China, business, PRC
Business in ChinaPhoto by Xinhua.
Business in ChinaPhoto by Xinhua.

China released a guideline on advancing reforms to streamline administration and delegate power amid efforts to improve the business environment and push high-quality development, informs The Xinhua News Agency.

Introduced by the General Office of the State Council, the guideline highlighted the creation of a market-oriented, law-based, and internationalized business environment, and outlined measures to boost the vitality of the economy.

The country will promote the efficient allocation of factors and resources, earnestly safeguard fair competition, and advance the modernization of the administrative governance system and governance capacity.

The guideline urged efforts to improve the employment environment, reduce burdens on market entities, expand effective investment, stimulate consumption potential, and ensure stable foreign trade and investment.

It also stressed improving services for people's livelihoods, such as elderly and medical care, and enhancing whole-process supervision over the reforms.

To unleash consumption potential, the document stresses removing hidden barriers to spending. Efforts should be made to break industrial monopolies and local protection, and push for the formation of a unified domestic market that is highly efficient, rule-based and fair for competition.

China will continuously optimize the environment for foreign investment, and further promote customs clearance facilitation, according to the guideline.

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