Nation a top business reformer: IFC

China is among the top 10 performers in regulatory reforms in business environment this year, as it was last year, the International Finance Corp (IFC) of the World Bank Group said yesterday.

China was 9th among 178 economies because it introduced three out of the 10 sets of IFC indicator reforms, according to an IFC report titled "Doing Business 2008" that was released yesterday.

China passed its new bankruptcy law in 2006, and the property law this spring. The former better protects creditors' interest by giving them priority to the proceeds from collateral, while the latter puts private property rights on an equal footing with State property rights.