China to build unified national market to deepen reform

(ECNS) -- China on Sunday issued a guideline on building a unified national market to break local protection and facilitate smooth economic circulation.

The unified national market is expected to improve the efficiency of and expand the scale of China's domestic market, according to the guideline.

Building a unified national market is important to further consolidate the smooth circulation of the domestic economic system, said Guo Liyan, a research fellow with the Chinese Academy of Macro-economic Research.

The unified national market will stimulate and cultivate the potential of the domestic market to respond to uncertainty beyond China, said Guo.

According to the guideline, China will unify basic systems in terms of intellectual property rights (IPR) protection, market access, fair competition and social credit. Promoting fair and unified market supervision is also an effective way to remove local protection and regional barriers in order to build a unified national market, said the guideline.

The guideline also highlighted the need to further standardize proper market competition and market intervention. The measures include strengthening anti-monopoly efforts, dealing with unfair competition according to law, rectifying black and gray industrial chains of the internet, breaking down local protection and regional barriers, comprehensively cleaning up preferential policies that discriminate against foreign enterprises and those funded by investment from other parts of China. It also abolishes regulations and practices that hinder equal access and exit according to law and violate unified market construction in the field of bidding and procurement.

In addition, the guideline prioritizes people's lives and the quality of commodities.