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China Looks to Further Optimise Business Environment

With a view to improving operating conditions for commercial entities throughout China, the State Council recently approved the Regulations on Optimising the Business Environment (State Council Decree No. 722), which will come into force as of 1 January next year.

The incoming Regulations feature a number of significant clarifications and assurances, including:

  • Key Principles and Definitions
    For all official purposes, the term ‘business environment’ is to be taken to refer to the systemic and institutional factors, as well as any other relevant conditions, that may impact on the performance of commercial enterprises. In addition, any moves to optimise said environment must be implemented in accordance with established market principles, the relevant legal requirements and international norms
  • Equality of Opportunity for All Market Entities
    Under the terms of the Regulations, every business, regardless of ownership or structure, is guaranteed equal entitlement to state protection and support, as well as fair access to all relevant production factors

Source: State Council

Content provided by Picture: HKTDC Research
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