China's market regulation game is on 🔥! At a recent press briefing by the State Council Information Office, the top regulator, Luo Wen of the State Administration for Market Regulation, showcased major wins from the 14th Five-Year Plan era (2021-2025).
First off, a unified national market and a national negative list for market access have simplified the rules of the game. Result? 19.99 million new enterprises and 33.95 million individual businesses since 2021! More players, more innovation 💡, thanks to lower costs and stronger protections for ideas and trade secrets.
Compliance and trust got a boost: a credit supervision system, including the enterprise abnormal operation list, lifted the corporate credit score from 128.6 in 2020 to 161.61 by mid-2025. That means smoother deals and stronger partnerships across industries.
Quality is the name of the game now. Over 4,200 key research projects tackled 18,000 quality bottlenecks, while 2,372 one-stop service stations are now open nationwide. The manufacturing quality competitiveness index hit 85.86/100, and service satisfaction soared above 81 points.
Looking ahead, deputy director Deng Zhiyong promises deeper standardization reforms and a more unified standards system to keep the high-quality growth rolling. Better rules, better growth—China's economic engine is revving up for the next lap! 🚗💨
Reference(s):
cgtn.com
