The Central Committee of the Communist Party of China and the State Council issued the “Opinions on Accelerating the Construction of a National Unified Market”
Speed up the development of a unified capital market and focus on strengthening anti-monopoly
Securities Times reporter He Jueyuan
On the evening of April 10, the Central Committee of the Communist Party of China and the State Council issued the “Opinions on Accelerating the Construction of a National Unified Market”, which provides an action plan for building a national unified market from an overall and strategic perspective. The “Opinions” proposed that the development of a unified capital market will be accelerated.
The “Opinions” deployed six main tasks, namely: strengthening the unification of basic market systems and rules, promoting high-standard connectivity of market facilities, creating a unified market for factors and resources, promoting high-level unification of commodity and service markets, promoting fair and unifying market supervision, Further regulate improper market competition and market intervention.
In terms of strengthening the unification of basic market systems and rules, the “Opinions” make it clear that the unified property rights protection system will be improved, and the rules and procedures of compulsory measures involving property rights in the field of law enforcement will be further standardized, so as to protect the property rights of enterprises and the personal and property safety of entrepreneurs in accordance with the law. A unified market access system will be implemented, and the management model of “one list across the country” will be strictly implemented. Carry out the registration of market entities in accordance with the law, and gradually realize the unified expression of the registration of business scope.
In terms of promoting high-standard connectivity of market facilities, the “Opinions” propose that a modern distribution network will be built, the construction of a national logistics hub network will be promoted, and multimodal transport will be vigorously developed. Vigorously develop third-party logistics and support the construction of digital third-party logistics delivery platforms. It will promote the optimization and upgrading of the trading platform, encourage the trading platform to cooperate with financial institutions and intermediaries, and develop a comprehensive service system covering property rights definition, price evaluation, guarantee, insurance and other businesses in accordance with the law.
In terms of creating a unified market for factors and resources, the “Opinions” proposed that the development of a unified capital market will be accelerated. Unify the registration of movable property and rights guarantee, and develop movable property financing according to law. Select a regional equity market with safe and standardized operation and strong risk management capabilities, carry out pilot systems and business innovations, and strengthen the cooperation and connection between the regional equity market and the national securities market. Promote the interconnection of bond market infrastructure and realize the free flow of bond market factors. Develop supply chain finance, and provide financial products that can directly reach the main business entities of various circulation links.
The “Opinions” proposed that the supervision of the capital market will be strengthened, a regulatory system with clear rights and responsibilities, clear division of labor, and smooth operation will be improved, and a bottom line of safety against systemic financial risks will be established. Adhere to financial services for the real economy, and prevent from deviating from the real to the virtual. Set up “traffic lights” for capital to prevent disorderly expansion of capital.
The “Opinions” also propose that the unified land and labor market in urban and rural areas will be improved, and the national unified secondary market for the transfer, leasing and mortgage of construction land use rights will be improved. Accelerate the cultivation of a unified technology and data market, establish and improve a national technology trading market, and improve the intellectual property evaluation and trading mechanism. Build a unified national energy market, promote the interconnection of oil and gas pipeline network facilities and open them to various market players fairly, accelerate the establishment of a unified natural gas energy measurement and pricing system, study and promote the establishment of a national electricity trading center in a timely manner, and promote the improvement of a unified national coal trading market. . Cultivate and develop a nationally unified ecological environment market, build a nationally unified trading market for carbon emission rights and water rights, and promote market-based trading of pollution rights and energy use rights.
In terms of further regulating improper market competition and market intervention, the “Opinions” propose that efforts will be made to strengthen anti-monopoly and eliminate issues such as platform enterprise data monopoly. Strengthen the centralized examination of operators in the fields of finance, media, technology, and people’s livelihood, and involving start-ups, new business forms, and labor-intensive industries.
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