Unified market to promote modernization

The resolution of the third plenary session of the 20th Central Committee of the Communist Party of China emphasized the need to build a unified national market and refine the systems underpinning the market economy.

Accelerating the construction of a unified national market is part of the efforts to comprehensively deepen reform and necessary to "perfect" the socialist market economy, ensuring the circulation of the domestic economy, and minimizing global economic risks.

A unified domestic market is a hallmark of a major economy. As the world's second-largest economy and second-largest consumer market, China has abundant human capital, the most complete industrial system globally, and growing high-tech innovation capability. These factors underpin China's advantages in manufacturing and supply.