Recently, the General Office of the People's Government of Shandong Province issued the Implementation Opinions on Further Optimizing the Business Environment and Reducing the Institutional Transaction Costs of Market Participants. Focused on effectively easing the burden on market participants, continuously stimulating the vitality of market participants, and constantly creating a market-oriented, law-based, international, and first-class business environment, it has put forward 77 specific measures that belong to 23 key tasks in five aspects.

As per the document, it is necessary to further break down the hidden threshold and promote the reduction of the access costs of market participants; further regulate enterprise-related fees and promote the ease of the operating burden on market participants; optimize enterprise-related services, and effectively reduce the service costs of market participants by comprehensively improving online and offline service capabilities, focusing on optimizing cross-border trade services, standardizing intermediary services and other measures; strengthen fair supervision, accelerate the construction of local sub-centers of the China National Overseas Intellectual Property Dispute Response and Guidance Center and effectively protect the legitimate rights and interests of market participants; further exercise government power according to due procedures and resolve such problems as administrative nonfeasance and malfeasance; establish and improve the coordination mechanism for the implementation of lawsuits related to government integrity and effectively stabilize the policy expectations of market participants.