In a significant move to bolster its economic framework, China's top economic planner unveiled new guidelines aimed at advancing the construction of a unified national market during a press conference on Tuesday.
These guidelines are a cornerstone of the initiatives outlined at the Central Economic Work Conference held in December 2024, emphasizing the implementation of a unified market access system and the safeguarding of fair competition across all sectors.
The National Development and Reform Commission (NDRC) highlighted several key measures, including the establishment of a standardized labor market system and the creation of a national unified social security public service platform. Additionally, the removal of restrictions on social security registration based on residency is set to streamline processes for residents nationwide.
Li Weizheng, deputy director of the Department of Market System Construction at the Ministry of Commerce, emphasized China’s ongoing commitment to reducing barriers for foreign investors. \"The nationwide negative list for foreign investment has been trimmed to just 29 measures,\" Li stated, marking a significant improvement in market accessibility and signaling China's dedication to fostering a more open and competitive economic environment.
These developments are poised to attract more foreign investment, stimulate economic growth, and ensure a more integrated and equitable market landscape in China.
Reference(s):
cgtn.com
