October 23, 2019

China on Wednesday unveiled sweeping administrative rules aimed at improving the business climate in the country, officially throwing legal and institutional support behind the country's long-stated goals to create more stable, transparent and fairer market for all types of businesses.

Coming at a time when the world's second-largest economy is under intense downward pressure from both external trade tensions and internal economic transition, the new rules, released by the State Council, will help allay concerns in the business community and pave the way for deepening reforms and opening up, analysts noted.

Premier Li Keqiang signed a decree for the release of the regulation on improving the business environment, set to take effect  on January 1, 2020, the Xinhua News Agency reported on Wednesday. 

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