The Premier of the State Council, Li Keqiang, has recently signed an order of the State Council to promulgate the Regulations on Optimizing the Business Environment (hereinafter referred to as the Regulations), with effect from January 1, 2020.

The CPC Central Committee and the State Council attach great importance to optimizing the business environment. In recent years, in accordance with the arrangements of the CPC Central Committee and the State Council, various localities and departments have continued to promote the reform of the 'streamline administration, delegate powers and improved regulation and service' in line with the expectations of the society, and our country’s business environment has been significantly improved. In order to continuously optimize the business environment, liberate and develop the social productive forces, speed up the construction of a modern economic system, and promote high-quality development, it is necessary to formulate special administrative regulations to provide more powerful guarantee and support for the optimization of the business environment from the institutional level.

The Regulations conscientiously sum up the experiences and practices of our country in optimizing the business environment in recent years, solidify the reform measures with the laws and regulations which have been proved to be effective, the people are satisfied, and the market main body supports. Focus on the prominent shortcomings of our country’s business environment and the difficult and painful problems that the market main body reflects strongly. Make corresponding provisions to mark the international advanced level from the level of perfecting the system and mechanism.

First, clearly define the principles and directions for optimizing the business environment. The Regulations define the business environment as the institutional and institutional factors and conditions involved by market subjects in market economy activities, in order to optimize the business environment, we should adhere to the principles of marketization, legalization and internationalization, take the demand of market subjects as the guide, take the profound transformation of government functions as the core, innovate the system and mechanism, strengthen the coordination and linkage, perfect the guarantee of the rule of law, and create a stable, fair, transparent and predictable good environment for all kinds of market subjects to invest and start their business.

Second, strengthen the protection of market subjects. The Regulations clearly stipulate that the country shall protect all types of market subjects on an equal footing, ensure that all types of market subjects make equal use of all factors of production and enjoy support policies on an equal footing according to law, protect market subjects’ operational autonomy, property rights and other legitimate rights and interests, and promote the establishment of a unified service platform for safeguarding market subjects' rights throughout the country.

Third, optimize the market environment. The Regulations stipulate that the starting time of enterprises shall be reduced, equal market access shall be guaranteed, the market order of fair competition shall be maintained, the tax reduction and fee reduction policies shall be implemented, the fees for enterprises shall be standardized, the difficulty and expense of financing shall be solved, and the cancellation procedures of enterprises shall be simplified.

Fourth, enhance the ability and level of government services. The Regulations stipulate the following contents: promoting the construction of a nationwide integrated online government affairs service platform, streamlining administrative licensing and optimizing examination and approval services, optimizing the examination and approval process for construction projects, standardizing the intermediary service of administrative examination and approval, reducing certificates to facilitate people, facilitating cross-border trade, and establishing a communication mechanism between government and enterprises.

Fifth, standardize and innovate supervision and law enforcement. The Regulations stipulate the following contents: provide for the improvement of supervision rules and standards, the implementation of credit supervision, 'double-random and one-open' supervision, inclusive and prudential supervision, 'Internet + supervision,'  the implementation of administrative law enforcement publicity, records of the entire process of administrative law enforcement, and a legal review system for major administrative law enforcement decisions.

Sixth, strengthen the protection of the rule of law. The Regulations stipulate that laws and regulations shall be reformed, abolished and implemented, regulations and policies shall be formulated to listen to the opinions of market subjects, a period of adjustment shall be set for market subjects to adapt to policies, a diversified dispute resolution mechanism shall be improved, publicity and education on the rule of law shall be strengthened, and the construction of a public legal service system shall be promoted.