Fledgling entrepreneurs in Liaoning province in China’s northeast received a Lunar New Year gift in January when the government scrapped fees of up to $1,600 for registering a new business.
The move was part of a stream of small changes in recent weeks aimed at carrying out the ruling Communist Party’s pledge in November to make the world’s second-largest economy more open and competitive. Authorities say it paid off quickly: the number of new companies registered in Liaoning in January jumped 50 percent from a year earlier to nearly 5,800.
Now, reform advocates are looking to this week’s meeting of China’s ceremonial legislature, the National People’s Congress, for signs the ruling party is ready to tackle more ambitious and politically thorny changes.
President Xi Jinping and other leaders promised in a reform blueprint issued in November to give markets a “decisive role” in the economy, force state-owned companies to compete and open more industries to entrepreneurs.
Read Full Article HERE
Associated Press via CHINA US Focus http://ift.tt/1kuZ2YL
No comments:
Post a Comment