BEIJING: China is taking solid steps to accelerate the building of a unified domestic market that is efficient, rules-based, open and encourages fair competition amid headwinds and pressures from a complicated and grim external environment and resurgent domestic Covid-19 cases.

       Experts said this marked the country’s latest move to deepen market-oriented reforms and inject more dynamism into market entities, which will propel the sustainable growth of both domestic and foreign businesses.

       In order to build a strong and unified domestic market, they said it was essential for the country to remove market entry barriers for companies at home and abroad, build a high-standard market system and promote both internal and external economic circulation.

       The Communist Party of China Central Committee and the State Council jointly released a guideline on accelerating the establishment of a unified domestic market.

       It calls for promoting efficient domestic circulation, fostering a stable, fair, transparent and predictable business environment, boosting scientific and technological innovation and industrial upgrading, and cultivating a key competitive edge in international competition and cooperation.

       Liu Quanhong, director of the International Economics Research Institute of the Chinese Academy of Macroeconomic Research, said the new guideline will give full play to the advantages of China’s ultra-large domestic market.

       “It will help accelerate the building of a high-standard market system, expand high-level opening-up, push for in-depth reforms and promote high-quality development,” Liu said.

       Such measures will help relax market access for both domestic and foreign businesses. — China Daily/ANN