China will continue optimizing market environment for fair competition
Updated 09:54, 08-Mar-2023

China will continue to optimize its market environment for fair competition, said Luo Wen, head of the State Administration for Market Regulation (SAMR), the country's market regulator, on Tuesday.

Luo made the remarks during an interview at the "Ministers' Corridor" on the sidelines of this year's Two Sessions, the country's annual political season.

Fair competition plays an increasingly important role in stimulating the vitality of all kinds of market entities, and as China enters high-quality development, there is a more urgent need for fair competition, Luo said.

He said the SAMR will focus on works in four aspects this year.

The first is to improve the legal system to safeguard fair competition. China just revised its Anti-monopoly Law last year and is advancing the revision work of the Anti-Unfair Competition Law. Luo said they are also improving other relevant laws and regulations to make the rules clearer and law enforcement procedures more transparent.

The second is to improve supervision. "We will strengthen the assessment of market competition situation in key areas, such as the digital economy and sectors vital for people's livelihood, and enhance preventive supervision," Luo said, adding that they will comprehensively use multiple means to help enterprises improve their management.

The third is to eliminate local protectionism and administrative monopolies, and the fourth is to create a good atmosphere of fair competition through guidance.

China's self-employed businesses flourish

China's self-employed businesses have flourished in recent years, with its total number increasing from 40.59 million in 2012 to 115 million today, which fully demonstrates the vitality and resilience of China's economy, Luo said.

He said the administration will vigorously promote the healthy development of self-employed businesses with supportive measures.

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