Chinese authorities will shift their focus from market access approvals to the supervision of market activities as part of the efforts to unlock growth potential by relaxing entry restrictions, an official announced on Friday.
The National Development and Reform Commission (NDRC), the country's top economic planner, briefed the media on new guidelines aimed at improving the market access system. These guidelines, released last week, outline measures to stimulate market vitality by easing entry restrictions.
The guidelines emphasize a "less rigid entry, strict regulation" approach, significantly reducing entry barriers for businesses in fully competitive industries. Market access in the service sector will be eased in an orderly fashion, with entry barriers gradually removed in industries where national security and social stability are not at risk and where market competition can lead to improved service quality, NDRC Deputy Director Li Chunlin said in Beijing.
For the first time, the guidelines also focus on 10 emerging sectors, including deep-sea exploration, aerospace, aviation, life sciences, new energy, and artificial intelligence. The NDRC aims to eliminate bottlenecks hindering industrial transformation and upgrading, promote the innovative allocation of production factors, and continuously improve market access efficiency.
Additionally, China will expand its pilot schemes to improve market access, working to dismantle hidden barriers. The focus will be on strategic emerging industries, key future sectors, and major productive forces to facilitate the adoption of new technologies and products.
"In the next step, the NDRC will collaborate with relevant departments to ensure effective implementation of the guidelines, strengthen coordination and continuously refine the market access system," Li said. "We will intensify efforts to enhance the access environment and further boost market expectations. Our goal is to develop a new pattern where 'standards guide access, lists regulate access, application scenarios promote access, pilot projects relax access, and supervision ensures access.'"