China will roll out more targeted and effective measures to improve its business environment at a faster pace, in an effort to bolster economic recovery. The measures will focus on fair competition, intellectual property rights protection, a unified market and easing market access.
The meeting also stressed the significance of building a market-oriented, law-based and internationalized business environment to stabilize expectations further, build up confidence and stimulate market vitality.
Another focus of the meeting was the high-quality development of the new energy vehicle industry. More will be done to optimize the sector’s industrial layout and tackle key technological problems in areas such as power battery systems, new chassis architecture and intelligent driving systems.
Efforts will also be made to improve battery recycling, promote the integrated development of vehicles, energy, roads and the cloud, and ensure the whole industrial chain becomes more independent and greener.
China will extend and optimize its purchase tax reduction and exemption policies for new energy vehicles and construct high-quality charging infrastructure to unleash consumption potential.
A draft law on preschool education was also approved for deliberation by the National People’s Congress Standing Committee.
China will plan the allocation of preschool education resources in a scientific manner and in accordance with the progress of new urbanization and a changing school-age population.
The government will ramp up spending on preschool education and give greater preference to rural and ethnic minority areas.
These measures are part of China’s efforts to create a more favorable environment for businesses and to promote economic growth. They are also a sign of China’s commitment to sustainable development.
Here are some of the benefits of these measures:
- Improved business environment: The measures will help to create a more level playing field for businesses, reduce barriers to entry and exit, and protect intellectual property rights. This will make it easier for businesses to operate in China and will help to attract foreign investment.
- Increased economic growth: The improved business environment and the development of new energy vehicles will help to boost economic growth. The new energy vehicle industry is a growing sector with the potential to create jobs and generate tax revenue.
- Sustainable development: The measures will help to promote sustainable development by encouraging the use of new energy vehicles and by improving battery recycling. This will help to reduce pollution and improve air quality.