China has launched a two-year pilot programme in 10 key regions to enhance market-based allocation of resources such as land, technology and data, as part of efforts to deepen its market-oriented economic reforms, reports Hong Kong's South china Morning Post.
The initiative aims to dismantle institutional barriers, boost efficiency in resource distribution and support high-quality development. Authorities said the pilot will allow markets to play a decisive role in pricing and allocating production factors, amid ongoing pressure on the country's economic growth.
The designated regions include Beijing's Tongzhou district, the Greater Bay Area, parts of Zhejiang and Jiangsu provinces, Chengdu in Sichuan province and Chongqing municipality. Officials noted these areas were selected for their strong reform potential and representative status.
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The initiative aims to dismantle institutional barriers, boost efficiency in resource distribution and support high-quality development. Authorities said the pilot will allow markets to play a decisive role in pricing and allocating production factors, amid ongoing pressure on the country's economic growth.
The designated regions include Beijing's Tongzhou district, the Greater Bay Area, parts of Zhejiang and Jiangsu provinces, Chengdu in Sichuan province and Chongqing municipality. Officials noted these areas were selected for their strong reform potential and representative status.
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