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Guidelines bar local govt market intervention

By Wang Yanfei | chinadaily.com.cn | Updated: 2017-10-26 22:04

The nation's five major regulatory agencies issued guidelines on Thursday that restrict local governments from taking monopolistic steps or other market intervention measures.

The guidelines also would urge local government officials to conduct a "self-review" of 50 "don'ts" before they issue any policies related to economic activities.

The 50 "don'ts" were developed based on a document issued by the State Council in June last year, which stipulates a broad negative list of 18 "don'ts" for local governments, apart from the anti-monopoly law.

Government officials also will be held accountable if they issue policies that violate fair market principles.

Enterprises can file lawsuits against local governments and report them to anti-monopoly law enforcement authorities if they violate the rules, according to the guidelines.

To create a fair and equal business environment, the commission has strengthened oversight of governments’ behavior disturbing fair market competition.

President Xi Jinping said in the report to the 19th CPC National Congress that China should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation.

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