China Takes Steps to Rectify Market Order

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 ◆ China Takes Steps to Rectify Market Order

China took new steps to improve and standardize the market order in 2002, Minister of the State Economic and Trade Commission Li Rongrong said. Speaking at the annual three-day National Economic and Trade Conference in Beijing, Li said the improvements focused on the cultural, construction, and travel industries, and on dangerous chemicals and oil stations. A group of major problem cases including those involving fake goods, had been checked, with business administration departments alone checking 125 cases involving 15 billion yuan (US$1.8 billion) from January to September this year. Li said a series of policies and laws were issued this year in an effort to eradicate problems in the market economy. The business-centered credit system was established, and information on the quality of goods important to food production could now be collected, inspected, managed and issued systematically. Up to 27 provinces had issued regional laws on meat and other goods. Enterprises shed 8,494 items of fees this year, involving 34.18 billion yuan (US$4.12 billion), he said. Li said the safety of road transport and mining had been strengthened this year. Major accidents had decreased by 7 percent from the same period last year and the death toll had fallen by 8. 8 percent year-on-year.