Luo Wen, head of the State Administration for Market Regulation, attends a group interview at the second session of the 14th National People's Congress on March 8, 2024, in Beijing. (PHOTO / VCG)

China will take bigger actions to crack down on administrative monopolies so as to offer a fair market environment for companies, said a top market regulator official on the sidelines of the ongoing two sessions on Friday.

We are currently revising related regulations on legal registration for corporate development ... we made it clear that enterprises relocating to other places can directly go through registration procedures in the new place.

Luo Wen, Head of the State Administration for Market Regulation

Luo Wen, head of the State Administration for Market Regulation, said that the country will continue to increase the rectification of some administrative monopolies, like local protectionism.

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"The SAMR has already drafted regulations to further optimize the review mechanism on fair competition and will promote municipalities to enact such regulations as soon as possible," he emphasized. Gaby Lin

Luo said that more efforts will also be made to drive the facilitation of cross-regional business operations for companies.

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"We are currently revising related regulations on legal registration for corporate development. During this revision, we made it clear that enterprises relocating to other places can directly go through registration procedures in the new place," he said.