{"id":17196,"date":"2025-09-12T18:55:18","date_gmt":"2025-09-12T18:55:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/17196\/"},"modified":"2025-09-12T18:55:18","modified_gmt":"2025-09-12T18:55:18","slug":"china-to-improve-market-based-use-of-key-resources-with-10-region-pilot-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/17196\/","title":{"rendered":"China to improve market-based use of key resources with 10-region pilot plan"},"content":{"rendered":"

To advance China\u2019s goal of developing its market-oriented economy, a comprehensive two-year pilot programme has been launched in 10 economically significant regions \u2013 aiming to improve the market-based allocation of key resources such as technology, land and data.<\/p>\n

The undertaking seeks to remove institutional barriers, improve resource-allocation efficiency, and promote high-quality development by allowing markets to play a decisive role in pricing and distributing factors of production, as growth of the world\u2019s second-largest economy remains under pressure, according to a directive published on Thursday.<\/p>\n

The 10 regions designated for related experiments include Beijing\u2019s Tongzhou district; the Greater Bay Area; parts of Zhejiang and Jiangsu provinces; Chengdu in Sichuan province; and Chongqing municipality, all of which \u201cpossess favourable conditions for carrying out reforms and are highly representative\u201d.<\/p>\n

These targeted and tailored pilot programmes reflect China\u2019s stepped-up efforts to deepen reform of the factor market \u2013 in which factors of production are bought and sold \u2013 which is key to building a unified national market and establishing a high-level socialist market economy<\/a>, said Li Chunlin, deputy head of the National Development and Reform Commission, the country\u2019s top economic planner.<\/p>\n

\u201cSince the reform and opening-up [period, which began decades ago], most goods and services in China have shifted to market-based pricing and free flow, but the factor-market system remains underdeveloped, hindering the market\u2019s decisive role in resource allocation,\u201d he said at a press conference on the same day.<\/p>\n

<\/p>\n

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The pilot programme not only addresses traditional factors such as land, labour and capital, it also encourages participating regions to pioneer innovative approaches to allocating and monetising resources such as data, computing power, airspace and the orbital spectrum \u2013 thereby accelerating the growth of \u201cnew quality productive forces\u201d<\/a>, an economic concept coined by President Xi Jinping last year.<\/p>\n","protected":false},"excerpt":{"rendered":"To advance China\u2019s goal of developing its market-oriented economy, a comprehensive two-year pilot programme has been launched in…\n","protected":false},"author":2,"featured_media":17197,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[15842,72,15835,114,15837,113,15841,61,60,15838,15836,15834,7313,15840,15839],"class_list":{"0":"post-17196","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijings-tongzhou-district","9":"tag-business","10":"tag-chengdu-province","11":"tag-china","12":"tag-chongqing-municipality","13":"tag-economy","14":"tag-greater-bay-area","15":"tag-ie","16":"tag-ireland","17":"tag-jiangsu-provinces","18":"tag-li-chunlin","19":"tag-national-development-and-reform-commission","20":"tag-president-xi-jinping","21":"tag-yue-xiaowu","22":"tag-zhejiang-provinces"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/17196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=17196"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/17196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/17197"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=17196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=17196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=17196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}