Guideline adopted on improving business environment, providing better services

China will take new steps to provide better services to market entities and further facilitate employment and business startups in an effort to improve the business environment and energize market players, the State Council’s executive meeting, chaired by Premier Li Keqiang, decided on Wednesday.

The meeting sought to maintain stability in the six key areas-employment, financial operations, foreign trade, foreign investment, domestic investment and expectations-and to enhance protection in six other areas: jobs, basic living needs, business operations, food and energy security and stable industrial and supply chains.

It urged effective delivery of all relief policies on the fiscal, social security and financial fronts to support the more than 100 million market entities, and instituting reforms in building a world-class and market-oriented business environment governed by a sound legal framework, to further stimulate market vitality.

The Wednesday meeting adopted a guideline on further improving the business environment and providing better services to market players.

“The guideline is both reality-based and long-term-oriented. Its focus is providing better services for market players. Though no specific GDP growth target was set this year, related targets in other respects are specified, including adding 9 million urban jobs and sustaining the more than 100 million market entities, among others,” Li said.

“If we can fully deliver the tax and fee cuts and fiscal funding support for this year, together with the interest concessions by financial institutions as appropriate by market principles, businesses can get through this trying time. These are also efforts for a sound business environment,” he added.

Services for market entities will be improved. Full review of construction projects online will be expedited. In sectors with licensing requirements, a single operating permit will be explored that would be valid across regions and sufficient for getting business up and running in each sector. The average review period of trademark registration will be shortened to no more than four months.

Employment and business startups will be further facilitated. Platform companies will be guided toward lowering commissions, charges for barcode-scanning payment and other fees. Flexible employment will be promoted.

More enabling conditions will be created for foreign investment and trade. Cities at the prefectural level and above will be given the mandate for foreign-invested business registration. “We must foster a world-class business environment to attract and harness foreign investment,” Li added.

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