Level the playing field

Having a good business climate is a key precondition for ensuring sustainable economic growth. The recent progress that has been made in the area of regulatory reform is therefore of particular significance to the country's steady rise as a global economic power.

A report by the World Bank and International Financial Corp identified China as a standout in regulatory reform in 2006/07. That year, the country introduced far-reaching protections of private property rights and a new bankruptcy law.

With the Chinese economy firing on all cylinders in recent years, the authorities have clearly attached great importance to the improvement of the business environment.