New ministry acts to reform market

CHINA'S newly established Ministry of Commerce would take several important steps to rectify and regulate market order within the first month of its operation, Minister of Commerce Lu Fuyuan said on Sunday.  

Speaking at the China Development Forum, he said the policies were clear in their orientation to develop a uniform and open market with a sound order of competition.  

He added that one of the main tasks of the new ministry was to rectify and regulate the order of market competition.  

Lu said the ministry would strengthen co-ordination and co-operation in policy and administration with other ministries in a joint effort to construct a modernised system of circulation. 

They expect to make substantial progress in the next one to two years.  

The ministry has set up an office of rectifying and regulating market economic order, Lu said, noting that it was drafting some important measures to be taken in the next month. 

He said measures would be taken to tackle protectionism and counterfeiting that run rampant in some areas. 

He warned that some local enterprises would face harsh competition and difficulties in a few years time if they failed to abandon the narrow mindset of regional protectionism.  

China would promulgate an anti-monopoly law and anti-regional protection law soon, Lu added. – People's Daily  

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