THE government has come up with measures to make it easier to do business in the world’s second largest economy, from nurturing private enterprises to widening market access.

The draft guidelines published by the National Development and Reform Commission (NDRC) include better protection of intellectual property, equal market access and more support for private businesses and small companies as part of wider plans to stimulate the economy.

The measures come as a slew of data in recent weeks points to a slowdown in the economy.

The document underlined that it is necessary to treat all types of market entities equally and to establish a punitive damages system for intellectual property infringement.

Public bids and government procurement should be open to all and be transparent and fair, it said.

It also called on financial institutions to increase lending to private enterprises and small businesses, and provide targeted products and services.

China’s manufacturers are struggling with sluggish demand at home and abroad, and a sharp U.S. tariff hike announced in May threatens to crush already-thin profit margins.

The measures, outlined in a 30-page document, are open for comment.(SD-Agencies)