Chinese President Xi Jinping stated on Friday that a national unified market is urgently needed in the country as it "can play a decisive role in the allocation of resources."
China should have an "efficient, standardized" market that would be "fully open," Xi said at a meeting of the Central Comprehensively Deepening Reforms Commission, which he also leads. Proper handling of the relationship between the government and the market is essential, he underlined.
"The transformation of government functions" should be sped up and the efficiency of government supervision should be improved, he also noted, according to state-owned broadcaster CCTV.