Photo
taken on April 1, 2021 shows a workshop of a microwave oven factory of
Midea Group, a Chinese home appliance giant, in Foshan City, south
China's Guangdong Province. (Xinhua/Li Jiale)
A
State Council executive meeting Wednesday passed a draft regulation on
the registration management of domestic market entities. It aims to
provide rule-of-law safeguards for developing market entities and boost
fair competition. During
the 13th Five-Year Plan (2016-2020) period, more than 60 million new
market entities were added. It has enhanced the economic vitality and
created numerous jobs, according to the meeting chaired by Premier Li
Keqiang. China
will continue to deepen its reforms, seeking to streamline
administration and delegate power, improve regulations, upgrade
services, and optimize the market-entity registration management system,
the meeting said. The
draft has detailed unified regulation measures on the registration of
various market entities, including companies, individually-owned
businesses and farmer cooperatives. The
draft has made it more convenient for market entities to register, with
both application materials and procedures being streamlined. Efforts
should be made to promote one-stop services, the online processing of
registration applications and inter-provincial approval, according to
the meeting. Market
entities shall register with their real names and be responsible for
the authenticity, legality and validity of the materials they submit. The
draft has also clarified the legal responsibilities and punishment for
illegal acts to safeguard market order, the meeting said.
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