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China's economic recovery
EconomyChina Economy

Explainer | Will a unified domestic market be a trump card to tackle China’s economic growth problems and US threats?

  • China first proposed the idea of a unified domestic market in 2013 before Beijing released guidelines on accelerating its establishment in April 2022
  • A unified domestic market is intended to enable a more efficient and smooth flow of production factors, including labour, goods, capital and data

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The unified domestic market guidelines are regarded as a foundation to prop up President Xi Jinping’s new development outlook, which is focuses on the quality of economic growth, more secure development and increased innovation. Photo: Xinhua
Mia Nulimaimaiti

China has proposed the establishment of a unified domestic market amid efforts to offset the impact of external factors, including weak overseas demand, financial volatility and sanction threats, which threaten the overall economic recovery amid weak market sentiment.

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But what is the progress of a plan that was first mentioned in 2013 before Beijing stepped up its efforts last year?

What is China’s unified domestic market plan?

The concept of a unified domestic market was first officially proposed in a top-level 2013 reform document, which focused on removing regional protectionism and encouraging competition.

But in April 2022, Beijing released guidelines on accelerating the establishment of a unified domestic market.

The unified domestic market is intended to enable a more efficient and smooth flow of production factors, including labour, goods, capital and data.

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