Overnight reports in Chinese media (state tabloid Global Times) in a five-year plan.
Main points:
- enhanced protection of property rights and self-operating rights of enterprises of different ownership types
- avoiding the abuse of administrative power to exclude and limit competitive behavior.
- will also improve the management system of “pre-establishment national treatment” with a negative list for foreign investment, and push for institutional opening in laws, rules, management and standards
- to ramp up legislation in national security, scientific and technological innovation, culture and education, and anti-monopoly efforts, among other fields
Chinese authorities have been very active in recent weeks cracking down on various sectors, notable education and tech. This has led to sell-offs in equities.
