The Jiangsu Administration for Market Regulation has taken the national lead by unveiling an annual work plan aimed at fostering the private economy's growth. This comprehensive plan outlines 16 priority areas and details 101 specific tasks, focusing on three key aspects: improving the external environment to foster a supportive atmosphere for private economic development, driving sustainable and healthy growth through internal motivation, and removing developmental barriers to alleviate burdens and address challenges faced by the private sector.

Streamlining Access and Enhancing Service Environment:

The administration aims to standardize and simplify registration procedures, making them more convenient and accelerating administrative processes. In 2024, the goal is to prioritize efficiency and offer one-stop online services for more government affairs, ensuring that service recipients experience the warmth of efficient service delivery.

Reducing Costs and Easing Burdens:

To alleviate financial pressures, the administration has instructed its affiliated inspection institutions to halve fees for special equipment inspection, measurement instrument calibration, and product quality testing for small and micro enterprises and self-employed individuals. Additionally, fees for medical device registration and inspection will be waived. The administration will also introduce version 3.0 of lenient penalty rules and exemption lists for minor legal infractions in market supervision, helping businesses to overcome burdens and progress unencumbered.

Ensuring Fair Competition and Removing Hidden Barriers:

Efforts are being made to eliminate local protectionist practices and deepen fair competition management, ensuring a level playing field for private, state-owned, and other types of enterprises to compete and develop together.

Boosting Confidence and Improving Services:

The administration is rolling out a three-year action plan to enhance credit systems and promote a model of "helping businesses build credibility" with convenience and efficiency. Financing and credit enhancement services, including "Su Zhi Loan" and "Su Zhi Financing" (loans and financing for enterprises with quality certification), will be made more accessible to reduce financing costs for private enterprises. There are ongoing efforts to strengthen brand cultivation, focusing on the "1650" industrial system (16 advanced manufacturing clusters and 50 key industrial chains) and the "51010" industrial cluster system (five globally competitive strategic emerging industrial clusters, 10 nationally leading strategic emerging industrial clusters, and 10 pioneering future industrial clusters) to select and nurture "Jiangsu Premium" brands.

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