This archive report was first published on 15 July 2019.
Published on July 15, 2019, China's National Development and Reform Commission (NDRC) has unveiled a draft plan to make it easier to do business in the world's second-largest economy.
The plan aims to nurture private enterprises, widen market access, and provide better protection of intellectual property, as the country's economic growth slows down amid a prolonged trade war with the United States.
Domestic and foreign companies operating in China have long complained about unfair treatment when it comes to market access, burdensome red tape, and weak law enforcement.
The measures come as a slew of data in recent weeks points to a slowdown in the economy, with China expected to report that growth in the second quarter was the weakest in at least 27 years.
The draft guidelines call for equal market access, a punitive damages system for intellectual property infringement, and transparent and fair public bids and government procurement.
Financial institutions are also urged to increase lending to private enterprises and small businesses, and provide targeted products and services.
China's manufacturers are struggling with sluggish demand at home and abroad, and a sharp U.S. tariff hike announced in May threatens to crush already-thin profit margins.
