Chinese Premier Li Qiang has called for significant progress and breakthroughs in building a unified national market to effectively support the nation’s new development paradigm and achieve high-quality growth.
Chairing a State Council study session on Monday, Premier Li emphasized leveraging China’s advantages, including its vast market size, abundant production factors, and comprehensive industrial system. He highlighted the importance of removing key obstacles that hinder economic flow.
Eliminating Barriers to Economic Flow
Premier Li stressed the need to clear out policies and regulations that obstruct the formation of a unified market and impede fair competition. He urged efforts to dismantle barriers to market access and address prominent issues such as local protectionism, market fragmentation, and disordered investment promotions.
“We must break down the walls that separate regional markets and prevent the free flow of goods and services,” Li said. “This will unlock the full potential of our super-large market and drive sustainable economic development.”
Strengthening Fundamental Mechanisms
The premier called for improvements to fundamental mechanisms and rules concerning intellectual property rights protection, market access, fair competition, and the social credit system. He emphasized refining supportive policies to provide robust mechanisms for building a unified national market.
“Enhancing these fundamental systems will nurture a more open, fair, and efficient market environment,” Li noted. “This is crucial for fostering innovation, attracting investment, and enhancing China’s role in the global economy.”
The push for a unified national market aligns with China’s broader goals of economic modernization and integration into global trade networks. By streamlining regulations and promoting fair competition, China aims to create a more dynamic and resilient economy that benefits both domestic and international stakeholders.
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Chinese premier urges further building unified national market
cgtn.com
