Chinese Premier Li Qiang has called for strict regulation of enterprise-related administrative inspections to stabilize market expectations and enhance law-based governance. Chairing a State Council executive meeting on Monday, Premier Li emphasized the need to address arbitrary actions by certain localities and departments that have disrupted business operations and negatively impacted the business environment.
The meeting approved guidelines to regulate enterprise inspections, urging strict enforcement of standards and procedures. It called for strengthened oversight of administrative inspections, reduced frequency of on-site inspections, and the elimination of arbitrary practices.
Premier Li also highlighted the importance of deepening reforms in the regulation of medicines and medical devices. The meeting outlined measures to support research and innovation, improve the quality and efficiency of review and approval processes, enhance regulatory oversight, and promote further opening-up and cooperation within the pharmaceutical industry.
In addition, the meeting addressed the need to enhance regulatory capacity across all aspects of food safety. It reviewed mechanisms to promote high-quality development through transfer payments, emphasizing that incentive funds should favor regions with greater tax contributions and faster income growth.
Draft rules on standardizing intermediary services for public stock offerings of companies were also approved during the meeting.
Reference(s):
Premier Li urges strict regulation of enterprise inspections
cgtn.com
