China's top market regulator pledges measures to stimulate economic vitality

BEIJING, April 13 (Xinhua) -- China's top market watchdog vowed to take concrete measures, including deepening reform, to spur market vitality and push forward high-quality development.

High-quality economic and social development cannot be achieved without the contribution of the millions of dynamic and resilient business entities, said Luo Wen, head of the State Administration for Market Regulation, at a press conference on Thursday.

Luo added that the administration will deepen reform on market regulation, advance fair competition, strengthen law-based supervision, do more to help business entities, and continue to standardize market order to boost vitality.

He assured that the market entry and exit system will be improved; unified, standardized, fair and transparent regulatory rules will be established, and institutional transaction costs for business entities will be further reduced.

The regulators will resolutely crack down on market irregularities such as price fraud, infringement and counterfeiting, as well as false publicity, Luo said.