New policies take effect on Jan 1

New rules to optimize business environment

China will implement new regulations that aim to make it easier to do business from Jan 1, China's state planner said on Oct 23.

The new policies will guarantee equal market access and protect fair competition in the market and make sure that foreign and domestic companies should be treated equally, as should all types of market entities regardless of ownership.

China will set up a punitive damage system for infringements on intellectual property, according to the measures.