China to further improve business environment, reduce institutional transaction costs_Li
China will take new measures to foster a conducive business climate and reduce government-imposed transaction costs to continuously ease the burden on market players and unleash their vitality, according to the decision taken at the meeting on Wednesday. executive of the State Council chaired by Premier Li Keqiang. .
Noting that reform is a key instrument in the policy toolbox, the meeting emphasized the adoption of reform measures to boost market vitality and further reduce government-imposed transaction costs for entities. of the market.
Unjustified trading charges will be fully compensated. The exercise of governmental power will be strictly delimited. Irregularities such as arbitrary charges and excessive taxes and fees will be held responsible.
Li said, “Over the years, the government has controlled the growth of non-tax revenue, setting a strict limit on the exercise of government power and resolutely limiting arbitrary charges and fines.
When approving industrial production, a categorical approach will be adopted to regulate products of the same series. Regulatory oversight will be strengthened, and the production and sale of counterfeit and substandard products will be resolutely cracked down on, to maintain fair competition. Mechanisms for collecting and processing indications of problems in the business environment will be improved.
“We should 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.