On January 7, 2025, the National Development and Reform Commission officially announced the guidelines for the construction of a national unified market.
The National Development and Reform Commission on January 7, 2025 released a guideline for building a unified national market.
At a shell exhibition held in a shopping mall in Chaoyang District, Beijing, stall owners communicated with customers (photo taken on October 2, 2024). Image source: Xinhua News Agency
【Knowledge Points】
A unified market refers to the construction of a market with unified basic institutional rules across the country, high-standard interconnection of market facilities, high-level unification of factor and resource markets, and commodity and service markets. At the same time, market supervision must be fair and unified, and there must be no inappropriate A large market where market competition and market intervention behaviors are further regulated. In 2022, the “Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a National Unified Market” was released, proposing that China will build a national unified market from aspects such as basic system construction and market facility construction.
To build a national unified market, in simple and popular terms, it means “five unifications” and “one elimination” to build a super-large-scale market that is efficient, standardized, fair-competitive, and fully open. The so-called “five unifications” specifically include: first, strengthening the unification of basic market systems and rules; second, creating a unified factor and resource market; third, promoting high-level unification of commodity and service markets; fourth, promoting high-standard connectivity of market facilities; and fifth, It is to promote fair and unified market supervision. “Abolition” means the elimination of local protection and market segmentation.
The Central Economic Work Conference pointed out when deploying key tasks for 2025 that “formulate guidelines for the construction of a national unified market.” On January 7, 2025, the “Guidelines for the Construction of a National Unified Large Market (Trial)” were officially announced. The formulation and promulgation of guidelines is to provide directional, framework guidance and phased work requirements for all regions and departments to accelerate their integration into and proactively serve the construction of a unified national market. Continuously consolidating and enhancing the advantages of China’s large market and accelerating the construction of a unified national market will surely provide solid support for the construction of a new development pattern and bring inexhaustible impetus to high-quality development.
【Important speech】
Build a unified national market, deepen the market-oriented reform of factors, and build a high-standard market system. Improve the basic market economy systems such as property rights protection, market access, fair competition, and social credit, and optimize the business environment.
We will build a unified national market, advance reforms for the market-based allocation of production factors, and put in place a high-standard market system. We will refine the systems underpinning the market economy, such as those for property rights protection, market access, fair competition, and social credit, in order to improve the business environment.
——Xi Jinping’s report at the 20th National Congress of the Communist Party of China on October 16, 2022
【Related vocabulary】
High standard market system
high-standard market system
business environment
business environment
China Daily English Dianjin Studio (This article was first published on the “Study Powerful Country” learning platform)
[Editor in charge: Chen Danni]
