Enhancing Market Entry Processes for an Improved Market Ecosystem
Enhancing the process of entering the market to foster a more effective market ecosystem.
TroibNews 
Editor's note: Yi Shaohua is an academic of economic strategy at the China Academy of Social Sciences. The article reflects the author's opinions and not necessarily the views of CN. It has been translated from Chinese and edited for brevity and clarity.
In alignment with the strategic initiatives discussed during the third plenary session of the 20th Central Committee of the Communist Party of China, the General Office of the CPC Central Committee and the General Office of the State Council have recently published the Opinions on Improving the Market Access System. This policy document underscores the ongoing commitment to thorough reform and the establishment of a sophisticated socialist market economy system. It marks a crucial step towards better integrating an efficient market and an effective government, aiming at a more equitable and vibrant market scenario.
The main focus of enhancing the market access system is on dismantling market barriers and forming an accessible, transparent, orderly, and well-regulated system characterized by fair competition, clear responsibilities, and robust oversight. The objective is to ignite internal societal motivation and invigorate market dynamism by refining the market system and harnessing market mechanisms.
Regarding refining the market system, there's a necessity to nurture a plethora of active producers, suppliers, and informed consumers. From a supplier's viewpoint, accelerating the growth of autonomous, financially accountable market players is crucial. On one side, there is a steadfast commitment to both consolidate and expand the public sector, and on the other, to promote and facilitate the development of the private sector. Additionally, easing entry for businesses and doing away with superfluous approvals will alleviate corporate burdens, promoting active entrepreneurial engagement. From a consumer's perspective, there needs to be an emphasis on increasing incomes and innovating products to meet and generate new consumer demands.
Concerning the utilization of market mechanisms, establishing a robust pricing structure for economic factors is essential. The goal should be to advance market-based reforms of these factors, enhance fundamental market economic institutions—including property rights, market access, competitive fairness, and social credit—and ensure equitable competition through consistent guidelines and governance of economic activities by unified market rules.
Three strategic measures are suggested.
Firstly, refining the power list and negative list systems is essential. Businesses should be allowed fair and legal entry into areas not covered by these lists, and the processes for updating market access management should be made transparent to foster a competitive yet orderly market.
Secondly, the market entry process should be made more coherent by better aligning domestic and international investment access policies and systematically reducing barriers in the services sector. Notably, expanding market access trials in strategic emerging sectors can revitalize different business types and inject fresh energy into the market.
Thirdly, it’s imperative to harness new quality productive forces to drive growth in emergent sectors. By fostering technological advancements, industry upgrades, and efficiency enhancements, there’s potential to push forward industrial digitization and elevate production efficiency, improve supply quality, and enhance market distribution effectiveness. On the consumption side, advances in technology and industry could revolutionize consumer behavior and unlock domestic market potential, thus broadening and enhancing consumer experiences and fulfilling the population’s growing aspirations for a better life.
Dedicated to fully advancing reform, a multifaceted and collaborative approach is necessary. Improving the market access system will continuously improve market efficiency and further refine the market environment. With these enhancements and the evolution of market structures, there's a strong foundation to drive high-quality economic growth and support the progress of Chinese modernization.
Mathilde Moreau for TROIB News
In alignment with the strategic initiatives discussed during the third plenary session of the 20th Central Committee of the Communist Party of China, the General Office of the CPC Central Committee and the General Office of the State Council have recently published the Opinions on Improving the Market Access System. This policy document underscores the ongoing commitment to thorough reform and the establishment of a sophisticated socialist market economy system. It marks a crucial step towards better integrating an efficient market and an effective government, aiming at a more equitable and vibrant market scenario.
The main focus of enhancing the market access system is on dismantling market barriers and forming an accessible, transparent, orderly, and well-regulated system characterized by fair competition, clear responsibilities, and robust oversight. The objective is to ignite internal societal motivation and invigorate market dynamism by refining the market system and harnessing market mechanisms.
Regarding refining the market system, there's a necessity to nurture a plethora of active producers, suppliers, and informed consumers. From a supplier's viewpoint, accelerating the growth of autonomous, financially accountable market players is crucial. On one side, there is a steadfast commitment to both consolidate and expand the public sector, and on the other, to promote and facilitate the development of the private sector. Additionally, easing entry for businesses and doing away with superfluous approvals will alleviate corporate burdens, promoting active entrepreneurial engagement. From a consumer's perspective, there needs to be an emphasis on increasing incomes and innovating products to meet and generate new consumer demands.
Concerning the utilization of market mechanisms, establishing a robust pricing structure for economic factors is essential. The goal should be to advance market-based reforms of these factors, enhance fundamental market economic institutions—including property rights, market access, competitive fairness, and social credit—and ensure equitable competition through consistent guidelines and governance of economic activities by unified market rules.
Three strategic measures are suggested.
Firstly, refining the power list and negative list systems is essential. Businesses should be allowed fair and legal entry into areas not covered by these lists, and the processes for updating market access management should be made transparent to foster a competitive yet orderly market.
Secondly, the market entry process should be made more coherent by better aligning domestic and international investment access policies and systematically reducing barriers in the services sector. Notably, expanding market access trials in strategic emerging sectors can revitalize different business types and inject fresh energy into the market.
Thirdly, it’s imperative to harness new quality productive forces to drive growth in emergent sectors. By fostering technological advancements, industry upgrades, and efficiency enhancements, there’s potential to push forward industrial digitization and elevate production efficiency, improve supply quality, and enhance market distribution effectiveness. On the consumption side, advances in technology and industry could revolutionize consumer behavior and unlock domestic market potential, thus broadening and enhancing consumer experiences and fulfilling the population’s growing aspirations for a better life.
Dedicated to fully advancing reform, a multifaceted and collaborative approach is necessary. Improving the market access system will continuously improve market efficiency and further refine the market environment. With these enhancements and the evolution of market structures, there's a strong foundation to drive high-quality economic growth and support the progress of Chinese modernization.
Mathilde Moreau for TROIB News
