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Speakers:

Mr. Luo Wen, minister of the State Administration for Market Regulation (SAMR)

Ms. Gan Lin, vice minister of the SAMR

Mr. Tian Shihong, vice minister of the SAMR

Mr. Pu Chun, vice minister of the SAMR

Chairperson:

Ms. Shou Xiaoli, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO

Date:

April 13, 2023

Shou Xiaoli:

Ladies and gentlemen, good afternoon. Welcome to this press conference held by the State Council Information Office (SCIO). This is the 14th briefing in the series "Embarking on the New Journey — A Government Perspective." Today, we have invited Mr. Luo Wen, minister of the State Administration for Market Regulation (SAMR), to brief you on energizing the market and solidifying the foundation for high-quality development, and to take your questions. Also joining us today are three vice ministers of the SAMR: Ms. Gan Lin, Mr. Tian Shihong and Mr. Pu Chun.

Now, I'll give the floor to Mr. Luo for a brief introduction.

Luo Wen:

Friends from the media, good afternoon. To begin with, I'd like to thank you for your long-standing interest in, support and help for the market regulation work. It is also my pleasure to have the opportunity to speak with you today and brief you all on market regulators' ideas, measures and progress concerning implementation of major decisions made by the 20th National Congress of the Communist Party of China (CPC).

At the 20th CPC National Congress, General Secretary Xi Jinping stressed that high-quality development is the primary task for building a modern socialist country in all respects, and called for efforts to expedite the establishment of a new development pattern and promote high-quality development. Practical efforts over the years have taught us that high-quality socioeconomic development would not have been possible without hundreds of millions of vibrant and resilient businesses. Since the 18th CPC National Congress, the Chinese market has seen a significant expansion in size, a continued optimization in structure, and a gradual improvement in environment. Various thriving businesses have provided a strong support for stable economic growth and comprehensive elevation of the nation's overall strength.

This year marks the start of fully implementing the guiding principles of the 20th CPC National Congress, and it is particularly important to ramp up efforts on the economic side. Market regulators will resolutely implement the decisions and plans made by the CPC Central Committee and the State Council. We will give full play to our close connections with both the market and businesses, further optimize our regulatory ideas, improve institutional arrangements, develop new measures, and make greater efforts to energize all market entities, in a bid to consolidate the foundation for effectively upgrading the quality of the country's economy and achieving reasonable growth.

First, we will energize market entities by deepening reform. We will improve the market entry and exit system and establish a set of regulatory rules that are unified, standardized, impartial and transparent. We will further reduce government-imposed transaction costs for market entities, and provide greater convenience for business production and operation. In addition, we will keep optimizing regulatory measures, improve the effectiveness of regulation, and make ongoing and ex post regulation more precise and scientific using methods such as credit rating-based regulation and smart regulation.

Second, we will further spur market vitality by pursuing fair competition. Protecting and promoting fair competition and creating an inclusive and fair market environment is conducive to giving full play to businesses' initiative and creativity, and continuously boosting their growth momentum and innovation vitality. Market regulators have always laid equal emphasis on regulating their own work and promoting development, so as to become a builder of a fair competition system, a protector of a fair competition market, a defender of consumers' interests, and a guardian of a unified domestic market. Market regulators will investigate and deal with various cases of monopoly and unfair competition in accordance with the law, fully implement an examination system for fair competition, and provide enormous market space for all sorts of businesses to thrive.

Third, we will implement law-based governance to revitalize the market. The rule of law should play a more important role in consolidating the foundations of governance, meeting people's expectations, and maintaining long-term development. Market supervision authorities need to further apply law-based thinking and approaches to ensure that their work is carried out in line with the rule of law and constantly improve the stability of market supervision and stabilize enterprises' expectations. To boost market confidence, we will ensure continuity and consistency in law enforcement that is fair and equitable. We will also balance the principles of "law, reason, and emotion," improve the effectiveness and efficiency of our work, and ensure that our law enforcement is both firm and compassionate.

Fourth, we will provide greater support and assistance to enterprises and small business owners, recognizing their crucial role as the mainstay of the market economy and the driving force behind its vitality. Market supervision authorities will intensify efforts to improve and implement measures that will help enterprises overcome challenges and obstacles. We will step up targeted cultivation and precise assistance, implementing initiatives aimed at enhancing high-quality development and boosting competitiveness. Additionally, we will crack down on illegal fee collection to ease the burden on enterprises.

Fifth, we will promote order and vitality through regulation. Creating a favorable "soft environment" to stimulate market vitality will be impossible without "hard measures" to regulate market order. Market supervision authorities will take resolute actions and not be lenient toward behaviors that violate market rules and disrupt market order, such as price fraud, infringement, counterfeiting, and false advertising. In particular, for key areas directly related to people's health and safety, such as food, drugs, industrial products, and special equipment, we will always stick to strict law enforcement, strengthen regulation, and severely punish illegal behaviors to promote a healthy market order and unleash market vitality.

This concludes my introduction. Next, my colleagues and I are happy to answer your questions. Thank you.