Explainer: Whys and whats of China's unified domestic market
China DailyConsumers check out Huawei's latest 5G smartphone models at a store in Chongqing in April. In recent years, notable progress has already been made to achieve a unified market and promote fair competition. Areas to receive attention include removing market segmentation and local protectionism, optimizing the factors and resources markets, and goods and services markets, unifying supervision rules and standards, and improving technological innovations and industrial upgrades. Accelerating the construction of a unified domestic market helps stabilize market expectations and promote healthy economic development. Instead of promoting a closed domestic cycle, the unified domestic market helps domestic and international cycles reinforce each other by making effective use of global factors and market resources and better connecting the domestic market with the international market.