China to improve business environment in next five years

China Economic Net

Beijing: China will continue to improve the business environment in the 14th Five-Year Plan period (2021-2025) while boosting quality management of products, projects, and services, said Zhang Gong, head of the State Administration for Market Regulation.

China’s business environment has upgraded remarkably in the 13th Five-Year Plan period (2016-2020), as can be mirrored in the fact that the average time to start a business shrank from more than 30 days to less than four days, Zhang said.

In the next five years, China would take a series of measures to boost business system reforms and provide market entities with a fair, transparent, procedure-based, convenient, and predictable business environment, he said.

The list of business permits for enterprises successfully piloted in 18 pilot free trade zones will become a national standard and will apply nationwide, he said.

China would intensify reforms in pilot free trade zones to meet the needs of deepening reforms and build a high-standard market system, he said.

In 2020, the administration stepped up law enforcement against monopolies and unfair competition, involving both online and offline activities, Zhang said. He pledged new efforts to fight these practices and prevent the disorderly expansion of capital.

During the 14th Five-Year Plan period, China will continue to strengthen quality management on key products, industries, and projects, and daily consumer goods and services, he said.

The quality of Chinese products and services has improved remarkably as 93.86 percent of manufactured products met quality standards. The figure was 100 percent for large and medium-sized construction projects, data from the market regulator showed.