Core Viewpoint - The article discusses the achievements and reforms in market regulation during the "14th Five-Year Plan" period, highlighting key areas of focus for improving the business environment and consumer protection in China [1][3]. Group 1: Registration Capital Reform - The revised Company Law stipulates that the maximum period for shareholders to contribute registered capital is five years, effective from July 1, 2024 [5]. - The reform aims to curb market irregularities such as excessive capital contributions and long payment periods, enhancing the credibility of registered capital [5][6]. - The implementation of "real-name registration" and verification of address information is intended to prevent fraudulent registrations and protect creditors' rights [5][6]. Group 2: Prevention of "Minor Offenses with Heavy Penalties" - The regulatory approach emphasizes a fair competition environment to stimulate business innovation and development [8]. - The introduction of a discretionary power baseline for administrative law enforcement aims to reduce unnecessary penalties for minor violations [8]. - A notable case highlighted the issue of disproportionate penalties, leading to a reassessment of enforcement practices [8]. Group 3: Platform Economy Regulation - The platform economy faces challenges such as algorithm abuse and unfair competition, necessitating regulatory oversight [11]. - Regulatory actions have led to the removal of over 4.5 million illegal product listings and the suspension of 58,000 online stores [11]. - Continuous dialogue with major platforms aims to promote compliance and address issues related to unfair practices in the food delivery sector [12]. Group 4: Food Safety Governance - Food safety remains a critical concern, with regulatory bodies enhancing compliance guidance for platform enterprises [14]. - Recent initiatives include the release of a draft regulation to clarify food safety responsibilities for online sales and delivery platforms [14]. - Strict penalties have been imposed for violations, including the revocation of 3,072 licenses and restrictions on 238,000 individuals [15]. Group 5: Accelerating Innovative Drug Review and Approval - Since the beginning of the "14th Five-Year Plan," 204 innovative drugs and 265 innovative medical devices have been approved, with 50 drugs approved in the first seven months of 2023 [17]. - A comprehensive service network has been established to guide enterprises through the drug development process, aiming for a 30-day review period for key innovative drugs [18]. - By 2025, the approval process for innovative drugs is expected to reach a high-speed phase, with approval times comparable to international standards [18][19].

Group 1: Market Regulation Achievements - The State Administration for Market Regulation (SAMR) highlighted significant achievements in high-quality market regulation during the 14th Five-Year Plan period, focusing on business environment, market operation, and safety supervision [2][5] - Key areas of focus include reforms in the registered capital system, prevention of excessive penalties for minor infractions, addressing platform economy issues, food safety, and innovation drug approval reforms [2][5] Group 2: Registered Capital Reform - The revised Company Law in 2023 stipulates that the maximum contribution period for limited liability company shareholders is five years, effective from July 1, 2024 [3][5] - The reform aims to curb market irregularities such as inflated registered capital and excessively long contribution periods, enhancing the credibility of registered capital [5][6] Group 3: Prevention of Excessive Penalties - The SAMR is implementing a "double random, one public" regulatory approach to minimize disruptions to normal business operations and enhance administrative enforcement standards [6][7] - A typical case highlighted the issue of disproportionate penalties, prompting the SAMR to withdraw an excessive fine against a local restaurant [6][7] Group 4: Platform Economy Regulation - The SAMR is addressing issues in the platform economy, including algorithm abuse and unfair competition, through ongoing regulatory actions [8][9] - Over the past five years, the SAMR has taken significant actions, including deleting 4.541 million pieces of illegal product information and investigating 105,000 internet-related cases [8][9] Group 5: Food Safety Oversight - Food safety remains a critical focus, with the SAMR enhancing compliance guidance for platform enterprises and increasing special inspections to address issues like "ghost deliveries" and false claims [12][13] - The SAMR has introduced new regulations to clarify food safety responsibilities among various stakeholders in the online food sales ecosystem [12][13] Group 6: Innovation Drug Approval - The pharmaceutical industry in China has seen rapid development, with 204 innovative drugs and 265 innovative medical devices approved since the beginning of the 14th Five-Year Plan [14][15] - The SAMR is streamlining the drug approval process, aiming to complete reviews of key innovative drugs within 30 working days and significantly reducing the time for supplementary application reviews [14][15]