China prepares plan to facilitate business

BEIJING (Reuters) – China has taken steps to ease the pace of doing business in the world's second-largest economy, from supporting private companies to expanding market access, as economic growth slows in a trade war extended with the United States.

The draft guidelines published by the National Development and Reform Commission (NDRC) include better protection of intellectual property, equal access to markets and increased support for private enterprises and small businesses as part of more comprehensive plans. vast to stimulate the economy.

Domestic and foreign companies operating in China complain of unfair treatment in terms of market access, red tape and weak law enforcement.

The measurements come as a whole series of data in recent weeks indicates a slowdown in the economy. China is expected to announce Monday that second-quarter growth was the lowest in at least 27 years.

The paper emphasized the need to treat all types of market entities equally and to put in place a system of punitive damages for infringement of intellectual property.

Public offers and public procurement must be open to all, transparent and fair, he said.

He also called on financial institutions to increase lending to private companies and small businesses and to provide targeted products and services.

Chinese manufacturers are fighting stagnant demand at home and abroad, and a sharp rise in US tariffs announced in May threatens to shatter already weak profit margins.

The measurements, described in a 30-page document, can be commented.