Li calls for fair market competition

New industries, unscrupulous players primary focus of attention

Equitable supervision should be strengthened to ensure fair competition amid China's efforts to develop its socialist market economy and stimulate market vitality, Premier Li Keqiang told the country's top market regulator.

Market vitality and equitable supervision are two sides of the same coin, and market vitality cannot be boosted without fair competition, Li said during his inspection of the State Administration for Market Regulation on Tuesday.

The premier visited the administration's department of product quality supervision in Beijing and spoke with officials.

In many regions of the country, quality inspections in certain sectors are randomly selected by computer, and these activities have been promoted to reduce the probability of corruption.

Li said random inspections and timely disclosure of information should be strengthened to keep all parties aboveboard. China has a large industrial sector, and quality should be improved by promoting the spirit of entrepreneurialism and craftsmanship, the premier said. Enterprises' appreciation for and pursuit of higher quality should also be raised, and a supervisory platform covering more market entities should be established to improve quality, he said. The administration is a new department under the State Council, the country's Cabinet, and came into existence after institutional reforms in March.

The administration was endowed with enormous responsibility in developing the socialist market economy and enhancing market regulation, Li said at a meeting at the administration. It should play a bigger role in promoting China's manufacturing and service sectors, he said.

Meanwhile, new technologies and business models are booming in China, which not only spur the country's economic development but also increase the number of jobs and make people's lives much easier, Li said. Emerging businesses have benefited from supervision, he said. Inclusive and cautious supervision should be conducted for new businesses to maintain quality and integrity, he said.

However, strict supervision and crackdowns will be undertaken for unscrupulous players who negatively affect people's lives and property, engage in fraud, produce counterfeits and infringe upon intellectual property rights, Li said.

Market regulation is hard to accomplish, especially in food, drugs and other fields that can possibly threaten people's lives and well-being, Li said. New technologies should be applied to achieve stricter monitoring covering all stages of production, he said.

(Source: China Daily)