China’s top economic planner, the National Development and Reform Commission (NDRC), unveiled new guidelines on Tuesday aimed at advancing the construction of a unified national market. The guidelines include implementing a unified market access system and safeguarding fair competition across the country.
The move is part of China’s efforts to implement key tasks outlined at the tone-setting Central Economic Work Conference held in December 2024. This initiative signals a significant step toward enhancing market efficiency and fostering a more open economic environment.
Among the key measures highlighted by the NDRC are the establishment of a standardized labor market system and the creation of a national unified social security public service platform. Additionally, the guidelines call for the removal of restrictions on social security registration based on residency, which is expected to facilitate greater workforce mobility and inclusivity.
Li Weizheng, deputy director of the Department of Market System Construction at 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,” said Li, marking significant progress in market accessibility.
These developments reflect China’s commitment to deepening economic reforms and opening up its markets to both domestic and international participants. By streamlining market access and promoting fair competition, China aims to create a more dynamic and equitable economic landscape conducive to sustained growth.
Reference(s):
cgtn.com
