China's top market regulator highlights high-quality development

BEIJING, April 13 (Xinhua) -- China's top market watchdog vowed to take concrete measures, including deepening reform, to spur market vitality and push forward high-quality development.

High-quality economic and social development cannot be achieved without the contribution of the millions of dynamic and resilient business entities, said Luo Wen, head of the State Administration for Market Regulation (SAMR), at a press conference on Thursday.

Luo added that the SAMR would deepen reform on market regulation, advance fair competition, strengthen law-based supervision, do more to help business entities, and continue standardizing market order to boost vitality.

He assured that the market entry and exit system would be improved; unified, standardized, fair, and transparent regulatory rules will be established, and institutional transaction costs for business entities will be further reduced.

The SAMR will resolutely crack down on market irregularities such as price fraud, infringement and counterfeiting, as well as false publicity, Luo said.

The regulator will provide an inclusive and level-playing field for enterprises, said Luo, vowing to investigate and punish all forms of monopoly and unfair competition in accordance with the law.

So far, China has 116 million self-employed businesses, nearly triple the number registered in 2013, according to Luo.

These businesses have played a positive role in creating and stabilizing employment, ensuring and improving people's livelihood, and boosting market vitality, Luo added.

The SAMR has attached great importance to monitoring enterprise credit, according to Pu Chun, deputy head of the SAMR.

More than 5.47 billion pieces of information on enterprises have been collected since the administration established the National Enterprise Credit Information Publicity System in 2014, Pu said on the same occasion.

The system has received 300 billion visits, or 100 million visits a day on average, he said.