China will intensify efforts to build a unified national market: top market regulator
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
China will speed up the building of a unified national market that is efficient, rule-based, fair, and open, Luo Wen, head of the State Administration for Market Regulation, has said.
The country will formulate and revise rules for the implementation of the regulations for fair competition reviews, improve legal rules for determining market monopoly and unfair competition, and refine rules for fair competition in the digital economy, Luo said in an interview with Xinhua.
He said policies and measures that impede the building of a unified national market and fair competition will be reviewed.
Strong efforts will be made to promote the inclusion of the review of fair competition in the assessment and evaluation of building a law-based government and optimizing the business environment, said Luo.
The administration will intensify efforts to address issues related to regional protectionist practices and market segmentation to ensure fair competition and market order, and promote fair and unified enterprise credit evaluation, he said.
Acts that abuse administrative powers to exclude or restrict competition will be prohibited and business entities of all kinds will be guided to compete in an orderly manner, said Luo.
To promote fair and unified market regulation, efforts will be made to strengthen the standardization and digital construction of market regulation and to build big data centers for market supervision, he said.
Noting the importance and urgency of improving the basic system of the market economy, Luo said efforts will be made to improve the market access and exit system, establish a trade secret protection system, and improve the credit supervision system.
Reference Link:- https://english.news.cn/20240901/c9f9a989619e4f8f86ed8100f0c234d5/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
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