Market Access: Work Conference

market access: Attended by top economic policymakers, including President Xi Jinping and Premier Li Keqiang, the conference was meant to set the priorities for next year's economic development agenda, according to Global Times China. The conference reaffirmed the government's commitment to continue supply-side reforms to cut overcapacity, help companies reduce leverage and financial burden, create a law-based environment and boost efforts to attract foreign investment, the Xinhua News Agency reported on Friday. The Central Economic Work Conference, which ended on Friday, stressed the need to continue to deepen overall economic reforms and vowed to improve market conditions to help business by further expanding market access, streamlining administrative restrictions and easing their financial burden. Good news for firms This is good news for companies, both domestic and foreign, Wang Jun, deputy director of the Department of Information at the China Center for International Economic Exchanges, told the Global Times on Sunday. While the government's commitment to stabilize the economy through policies will provide a sound investment environment for companies, including streamlining restrictions and expanding market access, its vow to reduce costs for companies through cuts on taxes and administrative fees will directly help companies, according to Wang. This year's conference mostly reaffirmed earlier reform commitments, but fresh vows to step up reform efforts next year will have an impact on companies' bottom lines directly and indirectly. (news.financializer.com). As reported in the news.