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 initiative includes implementing a unified market access system and safeguarding fair competition across the country.
The move is part of efforts to implement the key tasks outlined at the tone-setting Central Economic Work Conference held in December 2024. The conference set the strategic direction for China’s economic policies, emphasizing the importance of a unified market to facilitate sustainable growth.
Among the key measures highlighted by the NDRC are the establishment of a standardized labor market system, the creation of a national unified social security public service platform, and the removal of restrictions on social security registration based on residency. These steps aim to enhance mobility and fairness for workers across the Chinese mainland.
Li Weizheng, deputy director of the Department of Market System Construction at 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 reflects China’s commitment to opening up its market and providing a more welcoming environment for overseas investors.
The guidelines represent a significant step toward unifying China’s vast domestic market, promoting efficiency, and fostering a more conducive environment for both domestic and foreign businesses. The NDRC’s announcement signals the government’s dedication to deepening economic reforms and integrating markets throughout the country.
Reference(s):
cgtn.com
