This year’s Central Economic Work Conference emphasized that “there is a need to build a legalized market business environment, strengthen the introduction of foreign capital, and better play the important role of foreign-funded enterprises in promoting the development of the real economy”.Specifically, a legalized market business environment has at least three functions: First, it can stabilize the expectations of market entities.Second, the hidden rules in market activities can be turned into explicit rules, and the transaction costs of market entities can be greatly reduced.Third, the survival of the fittest can be implemented in accordance with the rules, and the market competitiveness and social and economic benefits of enterprises can be improved.To improve and optimize China’s business market environment, there are mainly three aspects of constructive measures.The first is the legalization of the property rights protection system.The second is that industrial policy management shifts to competition policy or anti-monopoly law to regulate market order and behavior.The third is the legalization of macroeconomic policies.
