Reforms to give boost to private sector

Nation to further optimize business environment, simplify market access system

China will optimize and facilitate a better business environment for private enterprises to invest and start new business, and further simplify the market access system, a senior official said.

The government will strengthen reform of the examination and approval process for medicines, medical equipment and special food. By the end of the year, a trademark database will be released to the public, and the trademark registration and examination period will be shortened to six months, according to the State Administration for Market Regulation.

President Xi Jinping said at a meeting on Nov 1 that China would unswervingly encourage, support and guide the development of the non-public sector and support private enterprises to develop toward a broader stage.

Zhang Mao, director of the State Administration for Market Regulation, said on Monday that by the end of this year, local governments would abolish rules that impede the unification of the market and fair competition.

“We will also strengthen anti-monopoly law enforcement, and abolish the current policies that involve local protectionism, designated transactions, and market barriers by the end of year,” he said.

“The government will also reinforce the protection of intellectual property rights, and perfect the overseas protection mechanism of intellectual property rights. By the end of the year, the government will issue measures to strengthen intellectual property law enforcement in key areas, such as online shopping, and imported and exported products,” he said.

As of September, China had 106 million business entities in the market, and individuals and private entities accounted for 95 percent of the total.

The administration said China would further support the growth of small and microenterprises by urging financial institutions to strictly implement measures to prohibit the collection of commitment fees and fund management fees for loans.

“China will further digitize the registration and licensing of new companies, and gradually make the process paperless and fully intelligent. By the end of the year, the government will also optimize the process and issue a guide for enterprises to withdraw from the market more easily,” Zhang said.

Last month, Zhang announced that by the end of the year, enterprises that start new business in municipalities and provincial capitals are expected to finish the registration procedures within 8.5 working days. By the first half of 2019, such a plan would be implemented nationwide.