China will continue to ease the burden on market participants and foster an enabling business environment to unleash their vitality, according to a decision made at an executive meeting of the State Council chaired by Premier Li Keqiang on Wednesday. and take further steps to reduce government-imposed transaction costs. .
Noting that reform is an important instrument in its policy toolkit, the meeting emphasized adopting reform measures to enhance market vitality and further reduce the transaction costs that governments impose on market actors.
Unfair business-related charges will be vigorously remedied. The exercise of governmental power is strictly limited. Fraudulent practices such as arbitrary billing and excessive taxes and fees are subject to liability.
“For years, the government has put strict boundaries on the exercise of government powers and resolutely curbed arbitrary fees and fines to keep non-tax revenue growth in check,” Li said.
Industrial production approvals take a category-based approach in regulating products in the same series. To maintain fair competition, we will strengthen regulatory oversight and resolutely crack down on the manufacture and sale of counterfeit and substandard products. Improved mechanisms for collecting and processing clues of business environment issues.
“We must continue to deepen the reform of government functions to foster a world-class, market-oriented business environment governed by a sound legal framework,” Li said.
