Presidency of People Republic of China : 2018/06/28 Continuing reform to spur market vitality

Premier Li Keqiang urged further promoting administrative reform to reduce the government's intervention in market activities in order to create a favorable business environment and motivate greater market vitality.

The Premier made the remarks on June 28 at a national teleconference on streamlining administration, combining power delegation with enhanced supervision, and optimizing government services.

Vice-Premier Han Zheng presided over the meeting, attended by Vice-Premiers Sun Chunlan, Hu Chunhua and Liu He, and State Councilors Wei Fenghe, Wang Yong, Wang Yi, Xiao Jie and Zhao Kezhi.

At the meeting, Premier Li stressed that administrative reform is an important move to transform government functions and activate market vigor. In the past five years, governments at all levels spared no efforts to push the reform, which is playing an active role in promoting entrepreneurship and innovation, stabilizing economic growth and increasing employment, and bringing more benefits to the general public and enterprises.

In order to address risks and challenges, promote high-quality economic development, foster new competitive advantages, and meet people's expectations for a better life in the next five years, efforts should be made to adhere to new development concepts and respect economic rules, while promoting administrative reform to minimize the government's direct allocation of market resources and intervention into market activities.

The Premier also called for efforts to create a world-class fair business environment where market vitality is further stimulated, internal sources of growth are enhanced, and potential of domestic consumption is unleashed.

Administrative reform should be expanded, Premier Li said, adding that in five years, starting a business should be shortened to five days, and reviewing construction projects and customs clearance should take half the time.