China launches new measures to improve the business environment
China's State Council has launched new measures to improve the business environment which will be enforced as of 1st January 2020, aiming to streamline trade norms.
The measure includes 72 articles which seek to reorganise the varioius reform measures announced in the past months, aligning the domestic system with the most advanced international standards and face the local red tape.
The new procedure envisages a shorter goodwill time for enterprises, a guarantee for amequitable market access and a transparent regulatory actions, policies to reduce taxation, regulatory measures regarding commissions and charges borne by enterprises, funding solutions and a streamlimed process to delete enterprises from public registers. With regard to acess to credit lines, it has been highlighted that the State will support medium and long term funding for SMEs, alongside an enhanced control over banking institutions on issues concerning financing conditions, tariffs, requirements to access credit lines and the relevant time framework.
The new policies should guarantee equitable access to the market, promote fair competition and enhance the rrule of law. Article 13, in particular, provides that tneders be open, transparent and equitable, with no restrictions or exclusions imposed for unreasonable purposes or linked to the origin of products or service providers, entrusting supervision over tendering to central government services.
The regulations envisage also a streamlining of dispute resolution procedures as well as the enhancement of mechanisms for the protection of rights and legitimate interests of market stakeholders, including intellectual property rights, establishing the principle that the State protects all market stakeholders, who will be entitled to benefit from supportive public policies on an equal footing.
The Government intends to introduce equity principles, establishing in an univocal way, that foreign and domestic companies shall be equally treated and that all market stakeholders enjoy the same rights, indipendently of ownership. Furthermore, Article 15 establishes specific measures in the field of intellectual property protection.