Nation’s private businesses empowered to seek better development on wider stage
With a series of actions being taken by the central government, China’s private businesses that often complain about disadvantages in market access and funding will be able to seek better development on a broader stage, the Xinhua News Agency said.
Over the past four days, several governmental departments including the State Adminis- tration for Market Regulation (SAMR), the Ministry of Industry and Information Technology (MIIT) and the All-China Federation of Industry and Commerce have separately announced new policies to show their unswerving support for private enterprises.
Competitive neutrality, which SAMR chief Zhang Mao mentioned in an interview with Xinhua on Monday, could be a catch-all phrase to describe this new round of policy support in the private economy.
Although the basic economic system of China requires the public sector to retain a dominant position and other diverse forms of ownership to develop side by side, it doesn’t mean that the government will pamper public sector competitors for the sake of their ownership.
Instead, the country’s regulators want policies concerning regulation, tax, debt and public services to be impartial so as to treat all market entities fairly and equally.
For instance, SAMR said it would annul documents impeding the establishment of a unified market and fair competition by the end of this year.
Practices constraining market competition that may lead to a monopoly, including behaviors like excessive charging and unreasonable trading requirements, will be phased out.