Xi says China to introduce negative list for market access nationwide

BEIJING — Xi Jinping said Wednesday that China will introduce a negative list for market access across the country, and support the growth of private businesses.

Xi made the remarks in a report to the 19th National Congress of the Communist Party of China at the Great Hall of the People in central Beijing.

A negative list model is one that, in accordance with laws and regulations, clearly states sectors and businesses that are off limits to some market entities.

"We will introduce a negative list for market access nationwide, sort through and do away with regulations and practices that impede the development of a unified market and fair competition, support the growth of private businesses, and stimulate the vitality of various market entities," he said.

"We will deepen reforms in the business sector, break administrative monopolies, preclude the forming of market monopolies, speed up the reform of market-based pricing of factors of production, relax control over market access in the service sector, and improve market oversight mechanisms," Xi said.