China's long-term economic policy unchanged amid regulatory wave - People's Daily
Reuters
Published Sep 07, 2021 10:05PM ET
SHANGHAI (Reuters) - China is imposing fresh regulations on its industries to promote their healthy development and the country's long-term economic policy remains unchanged, Chinese state media outlet the People's Daily said in an op-ed on Wednesday.
The reform measures are aimed at supporting the development of the private economy and the purpose of clarifying regulations, drawing bottom lines, and setting up "traffic lights" is to guide companies to obey the leadership of the ruling Communist Party, it said.
Starting late last year, various authorities in China have launched regulations and penalties across a number of sectors, in some cases altering long-term prospects of entire industries, at a pace that has roiled markets and stoked investor uncertainty.
Chinese authorities have recently appeared to be providing reassurances to businesses. China's Vice Premier Liu He on Monday pledged continued government support for the private sector.
The People's Daily said the regulations have achieved "early results" and were designed to curb "barbaric growth" of platform companies.
The policies introduced do not target specific firms, the paper said, adding that the country would continue to open up, protect the rights and interests of foreign capital and promote fair competition.
"The regulatory policies introduced treat everyone as equals, and are aimed at violations of laws and regulations, and are by no means aimed at specific industries or companies."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.