China Calls for Creation of “Great National Unified Market”


The Chinese central government has issued a new policy document on the accelerated integration of the country’s regional economies and markets.

On 10 April state-owned media reported that the Chinese Communist Party’s (CCP) Central Committee and the State Council had jointly issued the “Opinions on Accelerating the Establishment of a Great National Unified Market” (中共中央 国务院关于加快建设全国统一大市场的意见) on 25 March.

The Opinions call for “accelerating the establishment of nationwide unified market systems and regulations; breaking through regional protectionism and segregated markets; clearing out key blockages that restrain economic circulation; expediting the internal circulation of commercial goods, factors of production and resources on an even greater scale, and accelerating the establishment of a great national unified market that is fully open and has fair competition.”

Key goals of the Opinions include:

  • Continually driving the high-efficiency connection and scale expansion of domestic markets.
  • Accelerating the operation of a commercial environment which is stable, fair, transparent and predictable.
  • Further reducing market transaction costs.
  • Expediting tech innovation and industrial upgrades.
  • Cultivating new advantages for the participation in international cooperation and competition.

With regard to the “unification of market infrastructure, systems and regulations,” the Opinions call for:

  • Improving the unified property rights protection system.
  • Implementing a unified market entry system.
  • Upholding a unified fair competition system.
  • Improving the unified social credit system.

The Opinions also call for “creating a unified market for factors of production and resources,” with key measures to encompass:

  • Improving a unified urban-rural market for land and labour.
  • Accelerating the development of unified capital markets.
  • Accelerating the cultivation of a unified market for technology and data.
  • Establishing a unified national energy market.
  • Cultivating and developing a unified national ecosystem and environment market.