China News Service:

Mr. Zhao has introduced the remarkable achievements made in reforming the economic system. Over the past few years, China's economy has been experiencing continued growth, and new scientific and technological breakthroughs are constantly being made. We can see that more policies have been adopted to support private businesses, and the application of new technologies are making people's lives more convenient. Public services and ecological environment are getting better and better. All these reflect the achievements of China's economic system reform. As such, what efforts will be made to build a high-standard socialist market economy? Thank you. 

Zhao Chenxin:

Thank you for your question. I think your concern is mainly about the reform of the economic system. As you mentioned, since the Third Plenary Session of the 18th CPC Central Committee, China has made remarkable achievements in its reform of the economic system. These are the result of our all-round and systemic efforts. Over the past few years, China's socialist market economy has become more systematic, mature and well-shaped, injecting strong impetus into high-quality development. However, we need to understand that there are still some problems to overcome in advancing high-quality development. I think this perfectly fits the saying that everyone knows so well — the development of our cause shows us what needs to be changed, while reform is the means by which we change it. The NDRC will implement the guiding principles of the Third Plenary Session of the 20th CPC Central Committee, and take the building of a high-standard socialist market economy as its top priority. We will promote reform of the economic system, and ensure the implementation of major tasks. While properly handling the relationship between the government and the market, we will strengthen the reform in key areas and major fields, and give full play to the role of the "invisible hand" of the market and the "visible hand" of the government. We will lift restrictions on the market while ensuring effective regulation, so as to add impetus and vitality to economic and social development. To this end, we will ramp up our efforts in two aspects. 

First, we will boost the vitality of enterprises under all forms of ownership with further reform, and work unswervingly both to consolidate and develop the public sector and to encourage, support and guide the development of the non-public sector. When it comes to the reform of state-owned enterprises (SOEs), we will strengthen and improve management over the public sector, setting up the guiding systems for improving the layout of the state-owned sector and adjusting its structure, so as to guide the public sector to invest more in major fields that are crucial for safeguarding national security, supporting sci-tech progress, improving the national economy and people's lives, and providing public services. When it comes to the private sector, we will fully implement guidelines and supporting measures for boosting development of the private sector. The NDRC is working with multiple departments on the formulation of a law to support the development of the private sector. By doing so, we aim to protect the property rights of private companies and the rights and interests of entrepreneurs in accordance with the law, and improve the system and mechanism for private enterprises to participate in national major strategies. This will also help address the pressing difficulties and problems that concern business entities most, such as market access, access to factors of production, and impartial law enforcement. Moreover, we will refine the modern corporate system with distinctive Chinese features, and cultivate more world-class enterprises. Through these measures, we will ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, compete in the market on an equal footing, and are protected by the law as equals, thus enabling them to complement each other and develop side by side.  

Second, we will further advance the reform of the market system in a bid to make the market environment fairer and more dynamic. We will continue to carry out reform tasks listed in the action plan for the development of a high-standard market system. First, we will reinforce the institutional foundation for the building of a high-standard market system. Efforts will be made in such areas as property rights protection, negative list for market access, fair competition, innovation across the board, and social credit. For example, the negative list for market access, adopted in 2018, has been revised three times, greatly reducing the number of items on the list, and removing many entry barriers that the public and enterprises are highly concerned about. This has helped to inspire vitality in the market. Going forward, we will promote the introduction of guidelines on improving the market access system and publish a new version of the market access negative list. Moreover, we will introduce a batch of special measures to relax market access in a bid to explore further relaxing market access nationwide and providing a broader development space for various business entities. Second, when it comes to the allocation of production factors, we will continue to advance the comprehensive reform trials for the market-based allocation of production factors, and improve the system for the market-based allocation of resources and environmental factors, so that advanced and high-quality production factors can flow smoothly and be allocated effectively toward the development of new quality productive forces. Third, in order to boost the flow of the economy, we will accelerate the building of a unified national market, and formulate guidelines for the construction of a unified national market, making greater efforts to break down barriers and constraints such as local protectionism and market segmentation. Through these measures, we will continuously unleash the internal driving forces and creativity of the whole of society, and inject a steady stream of momentum into the advancement of Chinese modernization.

That is all for my introduction. Thank you.