Explainer: Whys and whats of China's unified domestic market
China DailyPeople enjoy a bird's-eye view of residential complexes in Fuzhou, Fujian province, in April. Highly efficient, rules-based, fair and open, its super large potential awaits unveiling BEIJING-China has released a guideline to accelerate the establishment of a unified domestic market amid efforts to build a high-standard market system and promote high-quality development. China defines a unified domestic market as highly efficient, rules-based, fair and open. China wants an integrated market unified by the same system and rules, ensuring high-standard connectivity of market facilities and building highly unified sub-markets of factors and resources markets and goods and services markets. A market with unified policies, regulations and standards for supervision can allocate resources efficiently to maximize social welfare, said Liu Zhibiao, director of the Yangtze Industrial Economic Institute of Nanjing University.