China’s top economic planner, the National Development and Reform Commission (NDRC), unveiled guidelines on advancing the construction of a unified national market at a press conference on Tuesday. The initiative aims to implement a unified market access system and safeguard fair competition across the nation.
This move is part of efforts to implement the key tasks outlined at the tone-setting Central Economic Work Conference held in December 2024. By harmonizing market regulations and standards, China seeks to boost economic efficiency and foster a more robust domestic economy.
The NDRC highlighted several key measures, including the establishment of a standardized labor market system and a national unified social security public service platform. The guidelines also call for the removal of restrictions on social security registration based on residency, facilitating greater mobility and equal opportunities for workers nationwide.
Li Weizheng, deputy director of the Department of Market System Construction of the Ministry of Commerce, emphasized ongoing efforts to reduce barriers to foreign investment. “The nationwide negative list for foreign investment has been trimmed to just 29 measures,” said Li, marking significant progress in market accessibility. This reduction signifies China’s commitment to opening up and creating a more favorable environment for overseas investors.
Reference(s):
cgtn.com
