China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang
- Premier ends National People’s Congress by promising to introduce measures to alleviate burdens felt by the private sector
- Entrepreneurs often feel treated differently to state-owned enterprises despite the private sector contributing 60 per cent of China’s gross domestic product
China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.
“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.
“Through years of efforts, we have cut the time required for getting a business licence from the previous 22 days to 8.5 days, this year our goal is to cut it to five days, and in some places with better conditions, we may cut it to three days.”
Companies, though, have complained that even after obtaining their business licence, they still required additional certificates.
“That is, their companies can be up not actually running. This year, we plan to ensure that all companies can start operation right after they get the business licence,” added Li.
