Connect with us

Popular World News

China drafts plan to make it easier to do business By Reuters

China drafts plan to make it easier to do business By Reuters


China drafts plan to make it easier to do business By Reuters


BEIJING (Reuters) – China has come up with measures to make it easier to do business in the world’s second largest economy, from nurturing private enterprises to widening market access, as economic growth slows amid a protracted trade war with the United States.

The draft guidelines published by the National Development and Reform Commission (NDRC) include better protection of intellectual property, equal market access and more support for private businesses and small companies as part of wider plans to stimulate the economy.

Domestic and foreign companies operating in China complain of unfair treatment when it comes to market access, burdensome red tape and weak law enforcement.

The measures come as a slew of data in recent weeks points to a slowdown in the economy. China is expected to report on Monday that growth in the second quarter was the weakest in at least 27 years.

The document underlined that it is necessary to treat all types of market entities equally and to establish a punitive damages system for intellectual property infringement.

Public bids and government procurement should be open to all and be transparent and fair, it said.

It also called on financial institutions to increase lending to private enterprises and small businesses, and provide targeted products and services.

China’s manufacturers are struggling with sluggish demand at home and abroad, and a sharp U.S. tariff hike announced in May threatens to crush already-thin profit margins.

The measures, outlined in a 30-page document, are open for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


To Top
error: Content is protected !!