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China is determined to conduct market-oriented reforms, Li said. The Chinese government will make more pragmatic moves in deepening reforms with stronger determination and strength, transform functions of the government, and strengthen intellectual property rights protection and market regulation to build a globally-competitive business environment, he said.
China is calling for more intensified efforts to deepen reform and opening-up to spur economic transformation, and will contribute Chinese wisdom to reshape forces driving the global economy, top officials said on Wednesday.
China is ramping up efforts to deal with zombie companies through bankruptcy or restructuring, as it seeks to cut overcapacity and guard against risks, according to the nation's top economic regulator.
China is ramping up efforts to speed up production and increase the market supply of necessities and medical products as part of its larger efforts to fight the coronavirus outbreak, said the country's top economic regulator.
China has seen strong compound growth of 16.9 percent in insurance revenue between 2011 and 2017. It has become the world's second largest insurance market with 11 percent of the global stake in 2017, second only to the US, an industry report from iResearch said.