China unveils guideline on improving market-based allocation of production factors

Source:Xinhua 2020-04-10

 

BEIJING, April 9 (Xinhua) -- China has issued a guideline on improving the market-based allocation mechanism of production factors in a bid to further facilitate the free and orderly flow of factors and stimulate market vitality.

Efforts will be made to further deepen reform and opening-up and remove institutional barriers that hinder the free flow of factors to lay a solid foundation for high-quality development, according to the document issued by the Communist Party of China (CPC) Central Committee and the State Council.

China will promote market-based allocation of factors of production, including land, labor and capital while accelerating the development of the market of technology and data factors, it said.

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