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China’s market watchdog vows stable business environment

China’s market watchdog vows stable business environment

China will create a more stable business environment for all market entities in the next year, Zhang Gong, head for the State Administration for Market Regulation, stated.

While paying closer attention to market entities’ performance and needs, market regulators will improve policy accuracy and effectiveness to help market entities cope with pressure and better support their sound development, Zhang said in a recent interview with Xinhua.

Zhang said that the country will also intensify efforts to create a fair and transparent environment for all market entities.

Zhang stated that China will innovate regulatory measures to ensure market entry and licensing rules are efficient and fair. He also noted that China will provide easier services for market entities and lower transaction costs.

Zhang stated that smart regulation, or credit regulation, will be used more widely to adapt regulatory measures to the rapid growth of the domestic market.

“Policies or measures for improving the business environment and bolstering market entities must be formulated and implemented as soon as possible,” Zhang said, calling for a tougher crackdown on irregularities that disrupt market security and industrial chains.

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According to data from the administration, there are more than 150 million market entities of all types in China. Around 70% of them are active.

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