Streamlined administration to foster high-quality development China will reduce burdens of market participants and boost investment
as part of its new measures to optimize the overall business
environment and foster high-quality development, officials and experts
said on Thursday. The government has announced 24 measures to stimulate market vitality
and ensure "six priorities" and stability in six areas for steady
economic momentum, with a focus on creating jobs, boosting market
entities, expanding effective investment, stabilizing foreign trade and
investment and safeguarding people's well-being, according to a document
released by the general office of the State Council. According to the document, the steps are aimed at transforming the
government functions and fostering a world-class business environment
that is market-oriented, law-based and internationalized. New measures include relaxing market access for micro and small
e-commerce businesses, promoting the elimination of hidden barriers that
hinder the development of new forms of business and industries,
strengthening regulation over platform companies, further lightening the
burden for market players and continuously optimizing the business
environment for foreign investors. More efforts will be made to press ahead with the antimonopoly push,
remove recessive consumption barriers, orderly phase out some
administrative restrictions on consumer purchases and further improve of
the management system for pre-establishment national treatment plus a
negative list for foreign investment. To facilitate a better business environment, the country will
continue to shorten the negative list for foreign investment, with a
focus on promoting orderly opening-up in the services sector and further
relaxing market access in the manufacturing sector, said Yang Jie,
director-general of the Department of Laws and Regulations of the
National Development and Reform Commission, the country's top economic
regulator. Yang said that so far four major groups of foreign-funded investment
projects have been launched in China, and a fifth group will be launched
later this year."This year, we will mainly support key foreign-funded
investment projects in fields like advanced manufacturing and high-tech
sectors and encourage foreign investors to be a part of the high-quality
development of manufacturing, "new infrastructure" construction and
innovation-driven development in China." Experts said the government's persistent reform efforts to streamline
administration, delegate power and optimize the business environment
are key to injecting new impetus into the economy. "China is at a key stage in which it is transitioning from rapid
development to high-quality development. The moves will vitalize the
economy and foster sustainable and long-term development," said Chen
Yuyu, a professor of economics at Peking University. Fan Shiqian, associate professor of the China University of Political
Science and Law, said such moves are conducive to transforming
government functions and better serving the public. Zhou Bing, global vice-president of US tech giant Dell Technologies,
said China's intensified opening-up measures will offer more growth
opportunities for foreign enterprises. "China is our second-largest market after the United States, and it
is growing at a fast pace," Zhou said."Despite COVID-19, we have
achieved considerable progress in the China market. We are optimistic
about China's future development."
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