BEIJING, March 11, 2011 (Xinhua), — China has simplified administration, delegated power and improved regulation to improve its business environment, Chinese Premier Li Keqiang stated Friday.
Li said that more than 1,000 items for administrative approval had been cancelled, delegated to lower level authorities, and that all items for nonadministrative approval had been eliminated. This was Li’s statement at a press conference held after the country’s annual legislative session.
Li stated that China’s market environment is constantly improving and has now reached 150 million. This is an increase of 100 millions over a decade ago.
Li also mentioned that China will strengthen supervision over those sectors that are closely connected to the health or interests of the people. China will also improve oversight and regulation for new business models and forms in order to allow all market entities to compete in a fair, just and fair environment.