China’s National Development and Reform Commission draft suggests market entities with quality and safety issues should be banned for three years.
BEIJING: Rules include asking banks to maintain the same loan rates and terms for all market entities to help ensure transparency and fairness, as long as they have the same application conditions, according to a National Development and Reform Commission draft on its website. China should take an inclusive and prudent approach while regulating new industries and technologies.
Market entities that have severe issues with quality and safety should be banned for three years, heads of such entities aren’t allowed to take similar roles at other companies during that time.
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