According to a message released by Xinhua News Agency on Tuesday, the Central Committee for Financial and Economic Affairs held its sixth meeting on July 1st to study the further advancement of the construction of a unified national market.

The meeting pointed out that to further advance the construction of a unified national market, the basic requirements are “five unifications and one opening”, namely, unifying the basic market systems, unifying the market infrastructure, unifying the government’s behavioral standards, unifying the market supervision and law enforcement, and unifying the factor and resource market, and continuously expanding domestic and foreign opening up.

Luo Zhiheng, chief economist of Guangdong Kaixin Securities, told Jiemian News that building a unified large market can fully leverage comparative advantages and scale effects, enhance the potential for economic growth, and release the potential for China’s economic growth. It is also conducive to accelerating the formation of a new development pattern, which requires domestic circulation as the mainstay.

Without a unified large market, it is impossible to boost demand from the demand side, nor to enhance supply fairness and the resilience of industrial and supply chains from the supply side. Luo Zhiheng said.

The meeting first mentioned that to further promote the construction of a unified national market, it is necessary to focus on key and difficult points, govern enterprises’ low-price and disorderly competition in accordance with laws and regulations, guide enterprises to improve product quality, and promote the orderly exit of backward production capacity.

The reporter from Jiemian News found that in recent times, multiple departments including the National Development and Reform Commission and the Ministry of Industry and Information Technology have continuously made corresponding arrangements for rectifying the vicious competition and maintaining market order.

Li Chao, deputy director of the Policy Research Office of the National Development and Reform Commission and spokesperson for the commission, said at a press conference on May 20 that the commission has adopted targeted measures to address the crux of the problem of internal competition, addressing both the symptoms and root causes, and resolving structural contradictions in key industries to promote their healthy development and upgrading. We will investigate and deal with unfair competition in accordance with the law, resolutely crack down on infringement and counterfeiting, intensify quality supervision and inspection, and jointly maintain a fair competition and survival of the fittest market order.

The Ministry of Industry and Information Technology has proposed that it will intensify the rectification of the vicious competition within the automotive industry, promote the optimization and adjustment of the industrial structure, strengthen the random inspection of product consistency, cooperate with relevant departments in conducting anti-unfair competition law enforcement, take necessary regulatory measures, resolutely maintain a fair and orderly market environment, effectively safeguard the fundamental interests of consumers, and promote the high-quality development of the automotive industry.

Although China’s economy withstood external pressure in the first half of the year, the development of both domestic and foreign trade still faces many uncertainties. The Central Committee for Financial and Economic Affairs mentioned that efforts should be made to promote the integrated development of domestic and foreign trade, smooth the path from exports to domestic sales, and cultivate a number of high-quality domestic and foreign trade enterprises.

The Political Bureau meeting held on April 25th emphasized that “efforts should be accelerated to promote the integration of domestic and foreign trade.” To accelerate the integrated development of domestic and foreign trade, efforts should be made to build a strong domestic market, enabling more high-quality goods and services to enter the domestic market more conveniently, increasing the quantity of supply, improving the quality of supply, and better meeting the increasingly upgraded domestic market demands.

At a press conference on June 26th, He Yadong, a spokesperson for the Ministry of Commerce, said that efforts should be made to create an integrated institutional environment for domestic and foreign trade and remove the bottlenecks and obstacles in domestic sales. Open a green channel for foreign trade enterprises to apply for compulsory certification and promote the resolution of 30 standard certification issues that enterprises have concentratively reflected.

He Yadong also mentioned that over 330 events of the “China Tour of Quality Foreign Trade Products” will be held in the second half of the year. We will make good use of important exhibitions, significant consumption events, key pedestrian streets and important e-commerce platforms to continuously enhance the influence and driving force of the “China Tour of Quality Foreign Trade Products” event. We will carry out the action of doubling the number of domestic and foreign trade integrated enterprises, cultivate a number of leading domestic and foreign trade integrated enterprises, build a number of domestic and foreign trade integrated comprehensive service platforms, help more enterprises operate domestic and foreign trade integrated, and enhance the level of integrated development.

In addition to emphasizing the governance of low-price and disorderly competition among enterprises and promoting the integration of domestic and foreign trade, the meeting of the Central Committee for Financial and Economic Affairs also proposed to standardize government procurement and bidding and tendering, and strengthen the fairness review of the winning bid results. Standardize local investment promotion and enhance information disclosure on investment promotion. We will continue to carry out special actions to standardize law enforcement involving enterprises, and improve the fiscal and taxation system, statistical accounting system and credit system that are conducive to market unification.