The Asia Pacific Economic Cooperation (APEC) forum described structural reform and the business environment in China as follows.
The optimization of the business environment and the implementation of the negative list for market access and foreign investment are critical structural reforms that the Chinese government has been promoting intensively in recent years.
First, there has been a substantial improvement in China’s global business environment ranking, resulting in a marked improvement in perceived profits for business entities.
According to World Bank data, China’s business environment ranking rose dramatically from 96th in 2013 to 31st in 2019.
This jump places China among the top 10 economies with the most significant improvements in business environment.
These improvements stimulate not only the passion for innovation and entrepreneurship, but also the revitalization of the business landscape.
Second, with the implementation of the market access negative list, market access management has continuously improved.
This development has further broken down barriers to market-based allocation of factors of production and the systems and mechanisms for the circulation of goods and services, and promoted both an efficient market and a well-functioning government.
Structural reform
Third, the implementation of the negative list for foreign investment access helps guide foreign investment in a reasonable manner and provides legal protection during its participation in China’s economic development, promoting the rational allocation of global resources.
The Chinese government remains firmly committed to improving the business environment.
To date, third-party business environment assessments have been completed and comprehensive economy-wide assessments have been conducted, resulting in a robust ex ante and ex post regulatory impact assessment (RIA) mechanism.
The government is currently assessing the effects of the implementation of the negative list for market access and foreign investment access, as well as exploring policy measures to further expand market openness.,