China to abolish regulations hindering fair competition

The Chinese government on Tuesday released new guidelines on reducing regulations and practices that impede the formation of unified national market and fair competition.

A statement by the State Council, China's cabinet, said that China will ensure fair competition to protect market participants and promote mass entrepreneurship and innovation.

Market access, exit and approval procedures must be reasonable and non-discriminatory, the guideline said.

As of July 2016, concrete policies must provide fair competition scrutiny. From 2017, provincial governments should have policies and provide guidance to lower governments. Endi