In the News: Import Expo; Hangzhou Internet Court; and Fair Competition
November 06, 2018 | BY
Jacelyn JohnsonChina International Import Expo shows China's shift from an export nation to an import nation; Hangzhou's internet court tells a success story one year on; and China's market regulators aim to crack down on unfair competition practices.
China Hosts Import Expo
The China International Import Expo (CIIE) which opened on November 5 in Shanghai is a milestone in China's history, as it shows the country's attempt to transition from a nation focused on manufacturing and export to being open to imports and free trade.
The six-day event is expected to see around 3,600 exhibitors from 172 countries and regions around the world showcasing their goods, technology and services at the National Exhibition and Convention Center. The expo is expected to attract more than 400,000 buyers from over 80,000 domestic and foreign companies.
The expo provides a huge opportunity for foreign companies to enter into the Chinese market of over 1.3 billion people, which is the world's second largest importer of goods.
President Xi Jinping, in his keynote address at the opening of the expo, said that he predicts the value of imported goods to reach $30 trillion, and imported services to go up to $10 trillion over the next 15 years. He also told delegates that it is China's commitment to promote free trade and support economic globalization and his plans to ease market entry to the international community.
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Hangzhou's Internet Court Celebrates One-Year Anniversary
China's first internet court, the Hangzhou Internet Court celebrated its one-year anniversary on October 31, promoting China's integration of the judicial system and technology. The past year has seen the internet court improve the efficiency of adjudication mechanisms and litigation services.
Online trials that involve judges, plaintiffs and defendants at different places and times, as well as the recently introduced blockchain-based digital evidence have made it easier for the public to obtain judicial assistance.
Zhou Qiang, president and chief justice of the Supreme People's Court, addressed the need to establish more internet courts and to promote a new internet justice system. He also affirmed the success of the Hangzhou Internet Court, and encouraged the innovation of cloud computing and artificial intelligence in online judicial services to improve the cyberspace governance system.
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Fair Competition Regulation Between Public and Private Sectors
The State Administration for Market Regulation (SAMR) will adopt a new regulation mechanism in a bid to regulate and enhance fair competition between state-owned and private companies. This will include principles of neutrality in regulation, tax and debt to ensure fairness and equality, reported Xinhua.
The SAMR will launch crack downs on practices that constrains market competition or leads to monopoly, which includes excessive charges, forced transactions, unreasonable trading requirements or restricting competition through administrative powers.
The new rules which will be put in place by the end of 2018 will include mechanisms to protect intellectual property rights overseas, and will aim to create an open and transparent environment to private companies to have market access.
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