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Any regulatory streamlining can only serve its purpose when supported with enhanced compliance oversight, which helps to enforce market order. All acts of malpractice involving cheating in the marketplace, making or selling fake or substandard goods, or running unlawful monopolies, will be dealt with in strict accordance with the law and banned from the market, as they are the enemy of fairness and innovation and go against social ethics.

Anker Innovations' phone-chargers, cables, batteries, headsets take the world by storm

Another overarching trend that is pressuring rental prices and demand is Beijing's slowing population growth. The population has been falling since 2017, in line with the city's 2016-2035 urban plan that emphasizes the city's role as the political, economic and technological capital of the country in addition to being the main hub for international trade and development. Capping the city population at 23 million is one of the measures set out in the urban plan.

Apart from limiting the amount of homework, the guideline also limits the time and difficulty of school exams, forbids schools from making grades and class rankings public and prevents after-school training institutions from engaging in exam-oriented training or hiring teachers from public schools.

Any organization or individual can report illegal charitable activities to civil affairs authorities, charity associations or other relevant authorities, said Guo Linmao, an official with the Legislative Affairs Commission of the NPC Standing Committee.