CHINA-ECONOMY: LIBERAL POLICY TO ENCOURAGE ENTREPRENEURS

The PRC State Council and CCP CC jointly issued guidelines on September 25, 2017, on encouraging entrepreneurial spirit and creating a favorable environment for entrepreneurship in a bid to spur market vitality. The guidelines said the government will protect the legal rights and interests of entrepreneurs, ensure fair competition and strengthen protection of intellectual property rights (IPR) to encourage innovation. It will also work on rules to protect IPR of innovative achievements such as new business models and cultural creativity. A negative list management program will be rolled out nationwide to ensure fair access to industries and businesses that are not off-limits for market entities. The guideline stated that the government will fight against monopolies, unfair competition practices and regional protectionism, and remove regulations that undermine fair competition.







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