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China maps out new blueprint on building of rule of law government — Xinhua

Summary:
China has set out an outline on promoting the building of a rule of law government from 2021 to 2025, on the basis of the successful implementation of a previous 5-year plan.The document, jointly issued by the Central Committee of the Communist Party of China and the State Council, was made public Wednesday.Identifying promoting the rule of law for government as the main task in advancing law-based governance in all areas, the document highlighted the guiding philosophies, principles, and overall goals of this cause for the next five years.It urges improving government functions in various fields, including economic adjustment, market supervision, social management, public service, and environmental protection.The government's function in formulating development strategies, plans,

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China has set out an outline on promoting the building of a rule of law government from 2021 to 2025, on the basis of the successful implementation of a previous 5-year plan.

The document, jointly issued by the Central Committee of the Communist Party of China and the State Council, was made public Wednesday.

Identifying promoting the rule of law for government as the main task in advancing law-based governance in all areas, the document highlighted the guiding philosophies, principles, and overall goals of this cause for the next five years.

It urges improving government functions in various fields, including economic adjustment, market supervision, social management, public service, and environmental protection.

The government's function in formulating development strategies, plans, policies and standards should strengthen. More legal and institutional efforts should curb unjust interventions in micro-economic activities, says the document.

It also specifies that the lists of power and duties of departments of the State Council should be formulated by the first half of 2022. The negative list for market access should also be strictly implemented.

On improving the law-based business environment, the plan calls for concrete efforts to prevent the administrative power from eliminating or stifling competition. It pledges improvements in the system of pre-establishment national treatment plus a negative list for foreign investment. It also promises strengthened enforcement of anti-monopoly and anti-unfair competition laws.

It stresses pushing forward legislative activities and studies in key areas such as national security, bio-security, infectious diseases prevention and control, and digital economy....

ECNS
China maps out new blueprint on building of rule of law government
Xinhua
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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