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China to facilitate joint development of domestic and foreign trade, targeting fair competition and opening-up

2022/1/20 14:16:55   source:Global Times

China's State Council has recently issued a document on the promotion of the integrated development of domestic and foreign trade to facilitate a dual circulation and a better connectivity of domestic and foreign trade.

The document came in response to a growing need for promoting a unified national market and a smooth flow of domestic and foreign resources.

While there has been a substantive progress for China's domestic and foreign trade integration, problems like the inadequate control system and the insufficient ability to make overall use of two markets still need to be further tackled, according to the document.

It aims to set a clear benchmark for a more effective connectivity on trade, in terms of laws and regulations, supervision mechanism, business qualification and market inspection.

The document highlights the strengthening of anti-monopoly and anti-unfair competition law enforcement and promoting fair competition, while cleaning up and correct unfair practices and hidden barriers such as local protectionism and industry monopolies.

A total of 15 work measures have been put forward for improving the domestic and foreign trade integration system.

The measures include moving forward with relevant laws and regulations, developing a supervision system, and cultivating of professional trade talents while improving logistics networks and financial support.

Other timely issues, like further improving the internal and external logistics network, are also noted, which include strengthening the construction of international air cargo capacity, enhancing the competitiveness of international shipping and promoting the high-quality development of China-Europe freight trains. 

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