With 51 new measures: a Chinese “action plan” to establish a “high-level” market system

SCBC Team – Riyadh

The People’s Republic of China has launched a new economic action plan to establish a high-level market system over the next five years, with the aim of drawing up a roadmap to promote an efficient market and a more efficient government.

The Chinese action plan included 51 new measures that included 5 main aspects, namely: “basic market institutions, effective allocation of production resources, market environment and quality, high-level openness, and the control mechanism of the modern market system.”

And China had earlier issued its plan for the next five years, known as the 14th Five-Year Plan, explaining that it adopted the “double trading” philosophy; That is, self-reliance in the economy, as well as promoting technological innovation, and working to create a cleaner environment, as the country’s development goals have been adopted until 2035.