Driving Growth Through Market Unity
In a strategic move to bolster the economy, Chinese Premier Li Qiang presided over a State Council executive meeting this Thursday, May 21, 2026, focusing on the critical objective of building a unified national market. The Premier emphasized that such a framework is essential for advancing high-quality development across the Chinese mainland.
The meeting called for a deepening of institutional frameworks, particularly in areas such as property rights protection, market access, and fair competition. By refining social credit and market exit mechanisms, the government aims to create a more transparent and efficient business environment. Furthermore, the Premier urged the advancement of high-standard connectivity for market infrastructure, which is expected to facilitate smoother economic circulation and significantly lower logistics costs across society.
Preparing for the Future: 2026-2030
Looking ahead, the meeting reviewed and approved a comprehensive plan for a modern emergency response system tailored for the 15th Five-Year Plan period (2026-2030). Recognizing that emergency management is vital for protecting lives and property, the State Council highlighted the need for deepening reform and innovation in emergency management.
The objective is to accelerate a shift toward proactive prevention. This involves strengthening risk prevention at the source and enhancing monitoring, forecasting, and early warning systems to ensure a more coordinated and efficient response to potential crises.
Legal and Financial Frameworks
In addition to economic and safety measures, the meeting discussed a draft revision of the Law on the People's Bank of China. The revision was approved in principle and will be submitted to the Standing Committee of the National People's Congress for further deliberation, signaling a continued effort to refine the nation's financial governance to match its developmental goals.
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Unified national market essential to high-quality development: premier
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