Council cuts red tape for businesses

Updated 2018-01-04 08:30:19 China Daily

Measures approved to streamline administration, reduce burdens

China will work to better the business environment with measures that further streamline administration and reduce corporate burdens, under a decision made at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.

To further improve the business environment, the government will prioritize cutting red tape, taxes and fees. The negative list for market access will be implemented across the board. The "one-stop and one-form" application for record-filing and business registration of foreign-invested ventures will be introduced nationwide, it was decided at the meeting.

Enterprises of various ownerships will be treated the same way in qualification and approval, government procurement, major projects in science and technology and standards setting. Properties of various types will receive equal protection, and more efforts will be made to protect intellectual property rights.

In his report to the 19th National Congress of the Communist Party of China, General Secretary Xi Jinping said that China will sort through and do away with regulations and practices that impede the development of a unified market and fair competition, and will promote high-standard trade and investment liberalization and facilitation.

"We should improve the investment and market environment, make bigger strides in opening-up, reduce the cost of market functioning and create a stable, fair, transparent and predictable business environment. In this way we can speed up the development of new institutions of the open economy and promote sustained and sound economic growth," he said.

Premier Li Keqiang said that improving the business environment will help unleash productivity and enhance competitiveness, and that fostering a sound business environment will lay an important foundation for developing a modern economic system and promoting high-quality development.

"Greater efforts should be made in streamlining administration, enhancing compliance oversight and delivering better services to foster an internationally competitive business environment that provides equal treatment to domestic and foreign enterprises and stimulates the vitality of market entities and social creativity," he said.

In a 2017 World Bank report, China ranked 78th in ease of doing business-it was 96th in 2013.

The current government has taken a series of measures to cut red tape, reduce corporate burdens and improve the business environment. It has canceled or delegated administrative approval by State Council bodies on 697 items, accounting for 45 percent of the total. The government also cut 323 items, 74 percent of the total, from the list of intermediary services for administrative approval, and it canceled professional qualification and certification requirements for 434 items, more than 70 percent.

The meeting decided that more efforts will be made to slash or cancel fees paid by enterprises, including operational and service fees and those charged by sectoral associations and chambers of commerce. Costs for customs clearance will be lowered.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 19 2018 05:52:10

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 19 2018 05:52:10

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 19 2018 05:52:10

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords