China is stepping up its game to create a unified national market, aiming to boost the economy and make it easier for everyone to do business.
On Tuesday, China’s top economic planner, the National Development and Reform Commission (NDRC), unveiled new guidelines to advance the construction of a unified national market. This means implementing a single market access system and ensuring fair competition across the country.
The move is part of efforts to carry out key tasks from the Central Economic Work Conference held in December 2024. The NDRC highlighted several important measures, including establishing a standardized labor market system and creating a national unified social security public service platform. They also plan to remove restrictions on social security registration based on where people live.
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,” Li said, noting significant progress in opening up the market.
The new guidelines show China’s commitment to turning big ideas into real action. Wang Shancheng, director general of the Department of Comprehensive System Reform of the NDRC, said these reforms are bringing people together, making the market more efficient, and contributing to high-quality economic development in China.
Reference(s):
cgtn.com
