Beijing Pushes Unified Market to Boost Economy, But Local Protectionism Hinders Reform Goals
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Beijing is pushing to build a "unified national market" to boost domestic demand and offset declining foreign trade, but local protectionism is hindering progress.
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A unified market is meant to increase market efficiency, attract foreign investors, and counter US decoupling efforts. But analysts say change may be slower than Beijing expects.
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Progress has been made in areas like shortening the negative list for foreign investment, but barriers like unequal treatment of private/foreign firms remain.
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If reforms aren't enacted quickly, economic pressure from trade declines and weak investment could mount.
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Foreign firms welcome goals like freer data/capital flows, but opaque local rules and uneven enforcement jam progress towards a truly unified national market.