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China Issues Market Supervision Plan for 13th Five-Year Plan Period

The State Council recently issued a plan for market supervision during the 13th Five-Year Plan period (Guofa No.17 [2017]), which is an intermediate and long-term plan for market supervision across the nation. The aim is to deepen the reform of the commercial system and promote the reform of market supervision.

The aim of the plan is to ensure fair competition and stimulate market vitality and creativity by strengthening and improving market supervision. It is necessary to deepen the reform of the commercial system, create a good environment for market access, market competition and consumption, reform the market supervision system, and make market supervision more scientific and effective, says the plan.

By 2020, a scientific and efficient market supervision system will take shape, a new structure of market supervision based on rule of law and supported by corporate self-regulation and joint governance by enterprises and society will be built, a market environment favourable to entrepreneurship and innovation, integrity and the law-abiding spirit and fair competition will be created, and a globalised, convenient and rules-based business environment will be established. Market access will be easy and convenient, market competition will be fair and orderly, and consumption will be safe and worry-free.

For details of the plan in Chinese, please see:

http://www.gov.cn/zhengce/content/2017-01/23/content_5162572.htm

Content provided by Picture: HKTDC Research
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