Chinese premier stresses cutting red tape, improving business environment

Chinese Premier Li Keqiang said Tuesday that the government should make continued efforts to streamline administrative approvals, delegate power to lower levels and improve regulations and services to optimize the country's business environment.

Li made the remarks during a teleconference presided over by Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee.

"Reforms to delegate power, improve regulations and upgrade services are significant moves to balance the relationship between government and market and have played a key role in increasing jobs, fostering new growth drivers and stabilizing the economy over the past years," Li said.

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends a teleconference in Beijing, on June 25, 2019. [Photo: Xinhua]

While firmly pushing forward the reform and opening-up, China should take delegating power to lower levels, improving regulations and services as well as optimizing business environment as major actions to stabilize employment, trade, investment, finance, foreign investment and market expectations, Li said.

Facing downward economic pressure, China will further stimulate market vitality, enhance competitiveness and unleash domestic consumption potential to ensure stable economic performance and promote high-quality growth, he said.

In creating an international and marketized business environment which is based on the rule of law, China will remove unreasonable institutional barriers, roll out open and transparent rules, carry out fair and just oversight and strengthen synergy with international economic and trade rules.

China will largely shorten the negative list on market entry, with the certificate types of industrial production permission expected to be more than halved this year and another over 50 items to be abolished or lowered from the central government level, the premier said.

At the same time, the country will enhance institutional oversight rules and standardize administrative law enforcement.

While fairly treating all market entities, China will implement tough regulation on vaccine, pharmaceuticals, special equipment and dangerous chemicals sectors.

The government services should also be improved to ensure that more services are available on the Internet or mobile apps to further facilitate residents, Li said.