China's Market Regulator Outlines Measures To Support Private Economy

BEIJING, May 17 (Bernama-Xinhua) -- China's State Administration for Market Regulation has released a 2026 work plan to support the development of the private economy, outlining 34 key tasks aimed at creating a fairer market environment and improving regulatory services, reported Xinhua.

The plan calls for equal emphasis on standardised regulation and development promotion, pledging efforts to foster fair competition, innovate regulatory approaches and strengthen services to support the high-quality development of the private sector.

To reinforce legal and policy safeguards, market regulators will improve the legal framework for fair competition and the system for supervising enterprise-related charges. Efforts will be made to expand credit-based incentives, strengthen technical trade support and enhance policy measures for individual businesses, according to the plan.

The regulator also highlights measures to maintain fair market order, including removing barriers, advancing the building of a unified national market, strengthening antitrust compliance guidance and addressing rat race competition.

 In terms of regulatory enforcement, authorities will explore off-site, contactless and QR-code-based inspection models, improve the fairness of administrative law enforcement, step up rectification in key areas and enhance governance capacity.

In addition, the regulator says it will strengthen services for private businesses by providing more targeted support for individual businesses, and reinforcing quality infrastructure to support high-quality development.

This policy move came as China's private companies are spearheading breakthrough innovations across various key sectors, supported by favorable government policies that encourage entrepreneurship and unleash market vitality in technological advancement.  

--BERNAMA-XINHUA