China is stepping up its game to ensure a fair and open market for all businesses. Starting April 20, new measures will come into effect to enhance the country’s fair competition review system. These steps aim to level the playing field, allowing both local and foreign companies to compete on equal footing.
The State Administration for Market Regulation announced on Tuesday that the 48-article measures outline clear guidelines for reviewing laws, regulations, and policies related to business activities. This includes scrutinizing market entry and exit, the free flow of goods, and reducing unnecessary costs for businesses.
The goal? To eliminate regional protectionism and practices that hinder fair competition, fostering a unified national market where innovation and efficiency thrive. By preventing policies that exclude or restrict market competition, China is paving the way for a more dynamic and inclusive economy.
These initiatives not only bolster confidence among market players but also align with global standards of fair trade. As China continues to open up its economy, such measures highlight the country’s commitment to creating a transparent and equitable business environment.
