In April of last year, China issued guidelines for accelerating the construction of a unified national market. The document is believed to have great impact on China’s economy in future decades.
Now, more than one year has passed. The officials say that progress had been made in multiple areas. One of the primary objectives is to reduce regional market barriers and establish a Fara and more open domestic market overall.
We have conducted self-inspections across different regions to address policy measures that hindered the establishment of a unified market. As a result, several policies that impeded the unified market and fair competition have been abolished or rectified
Officials have firmly committed to combating regional protectionism and administrative monopoly practices.
We will accelerate the implementation of fair competition regulations, carry out targeted anti-monopoly enforcement in key sectors and promote the seamless flow of goods and resources.
Meanwhile, officials from the Ministry of Commerce have emphasized that China’s unified large market is globally open and will offer a more favorable environment and increased opportunities for all market entities including foreign invested enterprises.
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China has implemented the dual circulation strategy, which prioritizes domestic circulation for economic growth and protection against external risks. Analysts believe that establishment of a unified national market is considered crucial for the success of this strategy.
