China.org.cn | September 25, 2024
Chengdu.cn:
My question is for the SAMR. What effective measures will it take to further improve the market access system, especially the registration and management system for business entities? Thank you.
Ren Duanping:
Thank you for your question. Market access is the prerequisite for economic entities to participate in economic activities, and the registration management system of business entities is the basis and key content of market access. The SAMR has thoroughly implemented the principles of the 20th CPC National Congress and the second and third plenary sessions of the 20th CPC Central Committee. We've adopted practical measures, actively promoted the improvement of the basic market economy system, accelerated the construction of a unified national market, and continued to improve the market access system. We've focused on deepening the reform of the business registration system based on subscribed registered capital, ensuring that subscriptions are paid on time as stipulated by law. We've deepened reform in key areas with an innovative spirit, strengthened system integration, reduced institutional costs of market access, and promoted a more mature and better-defined registration management system. This has spurred the innovation vitality and internal driving force of business entities, creating a first-rate business environment that is market-oriented, law-based, and internationalized.
Next, we will implement the opinions of the General Office of the CPC Central Committee and State Council on refining the national market access system, focusing on three aspects of work.
First, we will continue to deepen the reform of the business registration system based on subscribed registered capital. We will thoroughly implement the Company Law of the People's Republic of China and the State Council's provisions on the implementation of the Registration Management System for Registered Capital of the Company Law of the People's Republic of China. We will guide newly established enterprises to reasonably determine subscription terms in accordance with the law, steadily adjust the capital contribution terms of existing companies as per legal requirements, and promptly correct any obvious abnormal situations regarding companies' capital contribution periods and amounts. We will introduce measures for implementing company registration management, which will legally clarify the criteria and procedures for determining obvious abnormalities in registered capital, conditions and requirements for exempting and adjusting capital contribution terms, and separate register management. In high-security risk areas, we will work with relevant departments to study and establish legally classified scopes, proportions, and periods for paid-in registered capital. We will improve the management system for non-corporate market entities to ensure timely capital contributions in accordance with the law. We will accelerate the construction of a unified national registration system for market entities and strengthen smart access.
Second, we will continue to improve the legal framework for business entity registration. We will adhere to the new development philosophy, balancing development and security, vitality and order, and efficiency and fairness. We will maintain goal-oriented, problem-oriented, and reform-oriented approaches. We will accelerate the research and formulation of a basic legal system for business entity registration in accordance with the law. This will include clarifying the basic principles of registration management and unifying basic legal concepts and terms. We will also improve institutions and rules for managing business registrations, transfers, names, and leasing and contracting of market entities. Additionally, we will tighten legal penalties for business entity fraud. We will promote institutional innovation, fill institutional gaps, and develop legal systems and rules that effectively align with prevailing international commercial rules.
Finally, we will strictly enforce regulations against unfair competition and market intervention. We will advance both ex-ante measures and ex-post punishments, regulation and law enforcement, publicity and advocacy, and the correction of typical cases alongside institutional strengthening. These efforts will comprehensively remove market access barriers. We will strengthen supervision over both monopolistic and competitive businesses carried out by natural monopoly enterprises. This oversight aims to prevent these enterprises from abusing their dominant market positions in upstream and downstream competitive areas or from excluding or restricting market competition in these sectors. By focusing on the concerns of the public and businesses, we will advance anti-monopoly law enforcement to stop the abuse of administrative power that eliminates or restricts competition. Additionally, we will strictly implement the fair competition review system and resolutely rectify improper market interventions. These include the abuse of administrative power to restrict transaction partners or exclude and restrict business operators from bidding processes and other business activities. These efforts aim to remove restrictions and hindrances to market access for all entities.
That's all. Thank you.