Business Climate: Business Environment and Government Administrations

business climate: According to the legislation plan for 2019 that was released by the State Council, China's cabinet, on Saturday, four government administrations -- the National Development and Reform Commission the Ministry of Commerce the Ministry of Finance and the State Administration for Market Regulation -- will be responsible for drafting the regulations related to the optimization of the business environment, according to Global Times China. This effort will focus on three aspects, Deputy Finance Minister Zhou Jiayi said at a briefing held by the State Council on April 9, according to a report by the Xinhua News Agency. Photo CFP China aims to formulate laws to further optimize the business climate for domestic and foreign enterprises and ensure fair market competition, marking rising efforts to write terms concerning the business environment into legislation. Policies and regulations will be put forward to make sure that business operations will become more convenient, the environment is legally regulated, and regulations are enforced, according to the report. A top concern of many foreign companies comes from competition from SOEs and local protectionism, and to optimize the business environment means foreign investors and foreign businesses should be allowed to enter more industries that were previously monopolized by SOEs, Chen said. The regulations for the optimization of business environment will make business operation easier in China for both domestic and foreign companies, and will build a fairer competition environment, especially between foreign businesses and state-owned enterprises SOEs Chen Danzhou, an assistant professor at the School of Law at the University of International Business and Economics in Beijing, told the Global Times. (news.financializer.com). As reported in the news.