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China to improve government service for new economy

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Staff Writer | January 23, 2017
China new economy
Doing business in China   Regulators will take a more inclusive attitude

China will improve its services for the new economy to accelerate new growth, according to the government.

China will continue to enhance administrative efficiency to better serve rapidly-growing emerging industries and upgrade old ones, said the document of the State Council.

To reduce restrictions on the new economy, China will step up the process of approving, revising and abolishing laws and regulations, and allow local authorities to implement their own rules to test new business models in low-risk sectors, including logistics, education and tourism.

Support for innovation and business registration will also be strengthened.

Regulators responsible will take a more inclusive attitude to encourage innovation, while ensuring fair and open market entry, strengthening risk control, and improving the social credit system.

The government will also promote effective flows of knowledge, technologies, information and data resources, and push for more rapid translation of scientific results into productivity.


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