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China's efforts to tackle economic involution show effect in improving business climate: report

China

China

China

China's efforts to tackle economic involution show effect in improving business climate: report

2026-05-09 07:31 Last Updated At:11:27

China's efforts to tackle economic involution and foster a more orderly and fair nationally unified market have shown effect over the past year, said a report released on Friday.

According to the report released by the country's top economic planner -- the National Development and Reform Commission, China made further advances in the building of a nationally unified market last year, and comprehensive efforts to tackle economic involution have bore fruits.

Such efforts include setting clear red lines for investment promotion, introducing pricing rules for internet platforms, and strengthening mandatory national standards.

In 2025, China issued 353 mandatory national standards covering energy consumption, pollutant emissions, work safety and product safety, accelerating the exit of outdated production capacity from the market.

Fair competition governance became more effective in 2025. The fault detection rate in fair competition reviews dropped to 1.9 percent in 2025, a decrease of 0.2 percentage points from 2024.

In the year, bid invitation and tendering supervision was further improved. In 2025, more than 689,000 enterprises won bids, up 13 percent year on year. Private enterprises accounted for 76.2 percent of the winning firms, demonstrating strong market vitality.

A special nationwide campaign to regulate enterprise-related administrative law-enforcement also yielded results. Authorities tackled issues such as arbitrary charges, fines, inspections and seizures, as well as illegal cross-regional law enforcement and interest-driven law enforcement, handling 57,000 cases of problematic enterprise-related administrative law enforcement and investigating 5,918 cases of illegal fee charges.

As a result, the total number of administrative inspections on businesses fell by 33 percent year on year, while inspection quality and precision significantly improved.

"We will work with other competent departments to advance the building of a nationally unified market by removing barriers in factor acquisition, qualification approvals, bid invitation, bid offering and government procurement. We will strengthen the protection of property rights, continue to improve government services and provide broad space and solid guarantees for business entities to make investment and start off," said Huang Weiru, deputy director-general of the Department of Laws and Regulations at the National Development and Reform Commission.

China's efforts to tackle economic involution show effect in improving business climate: report

China's efforts to tackle economic involution show effect in improving business climate: report

Laura Fernandez was sworn in on Friday as Costa Rica's president for a four-year term during a ceremony at the National Stadium in San Jose.

Fernandez, 39, received the presidential sash from outgoing President Rodrigo Chaves before a crowd of about 20,000 people, including foreign dignitaries.

She previously served as minister of national planning and economic policy, and later as minister of the presidency.

Running as the candidate of the Sovereign People's Party, she won Costa Rica's presidential election on Feb 1.

In her first speech as president, Fernandez said her government would fight crime and prevent drug trafficking from infiltrating state institutions. She also announced plans to inaugurate a new "mega-prison" and one of the world's most modern police surveillance centers.

Laura Fernandez sworn in as Costa Rica's president

Laura Fernandez sworn in as Costa Rica's president

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