Premier Li stresses cutting red tape, improving business environment

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, speaks at a teleconference on issues including deepening reforms to streamline administrative approvals, delegating power to lower levels and improving regulations and services on Sept. 11, 2020. Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, presided over the meeting. (Xinhua/Pang Xinglei)

BEIJING, Sept. 11 (Xinhua) -- Premier Li Keqiang on Friday called for making new progress in cutting red tape to improve the business environment, boost the vitality of market entities and stimulate development momentum.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a teleconference on issues including deepening reforms to streamline administrative approvals, delegating power to lower levels and improving regulations and services.

Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, presided over the meeting.

Such reforms in recent years have contributed to a substantial increase in market entities and employment, rapid growth of new business forms and models, and increasingly stronger economic resilience and development momentum, which played an important role in fighting the COVID-19 epidemic and spurring economic recovery, Li said.

Li stressed doing a good job in the implementation of macro policies and deepening the red tape-cutting reforms so as to help enterprises tide over difficulties and stimulate the vitality of market entities.

He urged efforts to ensure stability of economic fundamentals, achieve the annual development goals, promote high-quality development, and form a new development pattern.

The premier stressed solid implementation of the direct-channeling mechanism for fiscal funds to ensure that tax and fee reductions generate sound practical results and help maintain security in areas including employment, people's livelihoods, and operation of market entities.

He stressed innovations on credit service models to make financing more accessible and favorable to enterprises, especially micro, small, and medium-sized enterprises.

Li underscored implementation of the foreign investment law and supporting regulations as well as the negative list for foreign investment access, responding to concerns, and creating a better open business environment, so as to assure foreign investors of China's determination in opening up and enable them to benefit from China's opening-up policies.