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As reported in China Daily on Wednesday, Beijing made a move to standardize regulations in a transparent way and help level the playing field for foreign enterprises and private firms. As part of opening-up, the shortened Market Access Negative List is expected to make it easier for all market players to invest in China.

As the latest addition to China's free trade zones project, Chongqing plans to become pivotal in the country's western development campaign - the national effort to develop the vast western regions that house energy and mineral resources crucial to future growth.

As the world's second-largest economy, China had more than 65 million businesses run by the self-employed and 27 million private enterprises as of the end of last year. They employed around 341 million people.

As the most significant tax overhaul for two decades, VAT is replacing the business tax, which has been in place for 60 years, streamlining procedures and avoiding repetitive taxes.

As the donations from the US continue to rise, "I think we all realize potentially this outbreak is not limited to Wuhan, Hubei or China," said Craig Allen, president of the US-China Business Council, a private, nonpartisan, nonprofit organization in Washington representing more than 200 American companies doing business with China.