The benchmark for market development has backslid from a peak observed in 2021, researchers said, prompting a need for deeper changes
In a new assessment from the National Economic Research Institute, a Beijing-based think tank, China’s overall level of marketisation – measured by five criteria, including government-market relations – stood at 5.62 out of 10 in 2023, slipping by 0.1 from 2019 and by 0.4 from 2021, the index’s four-year peak.
Speaking at an online forum late last month, Wang Xiaolu – the institute’s deputy director and a lead researcher – called it a “pretty significant change”, and said action should be taken to reverse the trend.
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