2024-09-23T15:58:00+03:00 China 2024-09-24T01:15:01+03:00

Ukrainian news

China to accelerate building of unified national market: top market regulator

China to accelerate building of unified national market: top market regulator

China will promote fair market competition and speed up the building of a unified national market, Luo Wen, head of the State Administration for Market Regulation (SAMR), said.

This was reported by The Xinhua News Agency.

The country will focus on improving legal systems, policy coordination, regulation and law enforcement, and the connection of rules, to achieve these goals, Luo said.

The administration will improve the legal and regulatory system to prevent market monopolies and unfair competition, Luo added. He also said that China will expand institutional opening up in competitive sectors by deepening multilateral and bilateral exchanges and cooperation in the fields of anti-monopoly and anti-unfair competition.

Fair competition is a fundamental principle of the market economy, an inevitable requirement for a unified market, and an important foundation for opening up and cooperation, Luo noted.

In recent years, market regulatory authorities in China have strengthened competition supervision and law enforcement, and improved the fair competition system. Positive results, including the issuance of a series of guiding documents for anti-monopoly work, have been achieved, according to the SAMR.