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China Issues Document on Rectifying Market Order
The Chinese government has recently issued a document intended to streamline the domestic market.
The "State Council's Decisions on Rectifying and Standardizing Market Economic Order" is meant to be a guide for the Chinese government as it reforms its market system.
According to the document, China will take a tough stance in the coming five years to crack down on the sales of counterfeit goods, smuggling, and other illegal activities; to rectify the real estate, financial and tourism markets; and to standardize the operation of intermediaries.
The ailing sectors that have caused widespread public concern, such as food and medicine, are highlighted in the document.
Tax evasion and tax fraud should be wiped out, the document says, while stressing the necessity of fighting local protectionism.
Within one year, the offenses that seriously harm the market order should be firmly curbed and the criminals brought to justice.
The document also notes that the laws and regulations should be further improved and the law enforcement should be strict to help ensure market order.
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