China’s Market Watchdog Vows Action Against Regional Protectionism and Market Segmentation in 2024
Beijing, The Gulf Observer: On the sidelines of the second session of the 14th National People’s Congress, Luo Wen, the head of China’s State Administration for Market Regulation, affirmed the organization’s commitment to addressing regional protectionist practices and market segmentation in 2024. The primary goal is to foster the development of a unified domestic market and promote fair competition.
Luo Wen outlined the administration’s strategic initiatives, emphasizing the importance of pushing for the introduction of regulations specifically focused on reviewing fair competition. Additionally, efforts will be directed towards facilitating the cross-regional relocation and operation of enterprises, aiming to eliminate barriers that hinder a seamless business environment.
In the pursuit of a more integrated market, the administration plans to rectify local protectionist practices that exploit hidden barriers. By doing so, China aims to create a level playing field for businesses and ensure a fair and competitive marketplace.
Highlighting the importance of standardization, Luo Wen underscored that China will steadily expand aspects of institutional opening up related to standardization. Moreover, the country will actively support foreign-invested enterprises, enabling their equal participation in the formulation of standards in accordance with the law.
In a global context, China is poised to play an active role in international standardization efforts. Luo Wen expressed the nation’s commitment to engaging proactively in these initiatives, demonstrating China’s dedication to promoting a fair, transparent, and globally harmonized business environment.
As China’s market watchdog pledges further efforts to tackle pressing issues, the outlined measures reflect a strategic commitment to fostering a unified and competitive domestic market while actively contributing to global standards and practices.
