China is accelerating the development of its unified national market, aiming to foster a more integrated and efficient economic environment. At a press conference on Tuesday, China’s top economic planner unveiled comprehensive guidelines to advance this initiative.
The guidelines include implementing a unified market access system and safeguarding fair competition across the nation. These measures are part of efforts to execute key tasks outlined at the Central Economic Work Conference held in December 2024.
The National Development and Reform Commission (NDRC) highlighted several key measures, such as establishing a standardized labor market system and creating a national unified social security public service platform. Additionally, restrictions on social security registration based on residency will be removed, promoting greater mobility and equal opportunities for workers.
Li Weizheng, deputy director of the Department of Market System Construction of the Ministry of Commerce, emphasized the ongoing efforts to reduce barriers to foreign investment. “The nationwide negative list for foreign investment has been trimmed to just 29 measures,” Li noted, marking significant progress in market accessibility.
These developments reflect China’s commitment to deepening economic reforms and opening up its markets. By building a unified national market, China aims to enhance resource allocation efficiency, stimulate fair competition, and provide a more conducive environment for both domestic and foreign businesses.
Reference(s):
cgtn.com
