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China drafts plan to make it easier to do business

EconomyJul 14, 2019 09:16AM ET
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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.

China drafts plan to make it easier to do business
 

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Comments (3)
Jack Zhang
Jack_A Jul 14, 2019 11:29PM ET
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some people just imagine or complain, but winners always do
bomz bomzov
bomz bomzov Jul 14, 2019 12:47PM ET
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communist press in every way positions China as the second greatest economy in the world
Tyler Phillis
Tyler Phillis Jul 14, 2019 12:31PM ET
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All of this, if it comes to be, will be meaningless unless the Communist dictatorship comes to an end. The Communists are thieves and liars!
bomz bomzov
bomz bomzov Jul 14, 2019 12:31PM ET
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During this time, the Communists seize power in the United States
David David
David9 Jul 14, 2019 12:31PM ET
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China is not communist. President Xi said, it is Socialist with chinese characteristics. Warren Buffet even said, they have found their secret sauce. It is working for them, 60% of the population lefted out of poverty in a very short time. China is projected to be the biggest economy in years out.
Bill Chan
Bill Chan Jul 14, 2019 12:31PM ET
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China has a huge market. Our Malaysia's Durian start export to China market. We don't like force or fight. Business is win win
 
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