China will accelerate the development of a comprehensive market regulatory system suited to the healthy development of the country's vast market during the 15th Five-Year Plan period (2026–2030), said Shu Wei, deputy administrator of the State Administration for Market Regulation, on Sunday.
Speaking at a press conference, Shu said the administration will continue to improve market entry management for business entities and deepen reform of the registered capital subscription system.
The administration will also strengthen the fair competition review system to tackle typical problems such as hidden market barriers and obstacles to the flow of goods and production factors, he said.
In addition, it will focus on addressing prominent issues that infringe on consumer rights and continue to regulate business activities such as online sales and livestreaming e-commerce, he said.
In terms of food safety supervision, the administration will continue to maintain a high-pressure stance, strengthen the deterrent effect of law enforcement, and crack down hard on prominent issues of strong public concern, such as illegal additives and the production and sale of counterfeit and substandard goods, the official said.
"The overall goal is that by 2030, China will have fully established a unified, standardized and efficient system for the entry and exit of business entities. The quality and effectiveness of fair competition review and anti-unfair competition enforcement will be significantly enhanced. The building of a quality powerhouse will reach a much higher level. Safety supervision of food, drugs, industrial products and special equipment will become more robust and effective. Consumer dispute resolution mechanism will be continuously improved. And the comprehensive market regulatory system will become more mature and well developed," said Shu.
China to build market regulatory system suited to vast market during 15th Five-year Plan Period: official
