Premier Li urges strict regulation of enterprise inspections

Chinese Premier Li Qiang chaired a State Council executive meeting on Monday, which approved a guideline to strictly regulate enterprise-related administrative inspections and outlined reforms for the regulation of medicines and medical devices aimed at fostering high-quality growth in the pharmaceutical industry.

The meeting emphasized the need to strictly regulate enterprise-related inspections to stabilize market expectations and enhance law-based governance. It highlighted concerns over arbitrary actions by certain localities and departments that have disrupted business operations and negatively affected the business environment.

Strict enforcement of inspection standards and procedures was urged, alongside strengthened oversight of administrative inspections. Efforts will also focus on reducing the frequency of on-site inspections and eliminating arbitrary practices.

The meeting also called for deepening the reform of the entire medicine and medical device regulation process to increase China's pharmaceutical strength and meet public demand for high-quality medicines and medical devices.

Work should be done to support the research and innovation of medicines and medical devices, improve the quality and efficiency of review and approval processes, enhance regulatory oversight, and support the pharmaceutical industry in seeking further opening-up and cooperation, according to the meeting.

It also studied enhancing regulatory capacity on all food safety links. It was briefed about the incentive and constraint mechanisms to promote high-quality development through transfer payments.

The meeting said that transfer payments should play a role in guiding local high-quality development, and the incentive funds should be tilted to regions with greater tax contributions and faster income growth.

The meeting approved draft rules on standardizing intermediaries' services for the public stock offerings of companies.

(With input from Xinhua)