The government has decided to liberalize the trade policy, removing import restrictions on several goods.
政府已经决定放宽贸易政策，取消对几种商品的进口限制。
In an attempt to attract foreign investment, the country has started to liberalize its financial sector.
为了吸引外国投资，该国开始放松其金融领域的管制。
The new administration vowed to liberalize media laws, promising more freedom of expression for journalists.
新政府誓言要放宽媒体法规，承诺为记者提供更多的言论自由。
The labor market needs to be
liberalized to allow for greater flexibility and mobility of workers.
劳动力市场需要得到放宽，以允许工人们有更大的灵活性和流动性。
Following the signing of the treaty, both countries agreed to liberalize their visa policies for each other's citizens.
在签订条约后，两国同意相互放宽签证政策。
The education system should be
liberalized to encourage critical thinking and creativity among students.
教育体系应予以放宽，鼓励学生进行批判性思考和创新。
The telecom industry is undergoing a process of liberalization, which will lead to increased competition and better services for consumers.
电信行业正在进行市场化改革过程，这将导致竞争加剧并为消费者带来更好的服务。
We propose to liberalize the regulations on small businesses to stimulate economic growth.
我们提议放宽对小企业的管制以刺激经济增长。
The energy sector is set to be
liberalized in the coming years, allowing private companies to enter and compete with state-owned enterprises.
能源领域在未来几年将被放宽管制，允许私营企业进入并与国有企业展开竞争。
The government aims to liberalize the pension system, providing individuals with more options for saving and investing their retirement funds.
政府计划放宽养老金制度，为个人提供更多的退休储蓄与投资选择。
Investing and operating wind and solar assets in mature markets can bring valuable power market experience and know-how as China's power market is set to further liberalize in the future, said Wang Ziyue, an analyst at research firm BloombergNEF.
研究公司BloombergNEF的分析师王子跃表示，随着中国电力市场未来将进一步自由化，在成熟市场投资和运营风能和太阳能资产可以带来宝贵的电力市场经验和专业知识。
"While a surge in domestic renewable energy demand driven by the carbon neutrality pledge could reduce Chinese developers' reliance on overseas markets, investing and operating wind and solar assets in mature markets can bring valuable power market experience and know-how to them as China's power market is set to further liberalize in the future," he said.
他说：“虽然碳中和承诺推动的国内可再生能源需求激增可能会减少中国开发商对海外市场的依赖，但随着中国电力市场未来将进一步自由化，在成熟市场投资和运营风能和太阳能资产可以为他们带来宝贵的电力市场经验和诀窍。”。
Over time, we believe nationalism and protectionism will diminish and we will move back to the progression of a more liberalized trade world. "
我们相信，随着时间的推移，民族主义和保护主义将减弱，我们将重新回到更加自由化的贸易世界的进程。
It noted that since the deal's signing, China has taken steps to liberalize its financial services sector to foreign companies, significantly reduce barriers to trade in the agriculture sector and strengthen its domestic legal and enforcement regime for protecting intellectual property rights.
According to the government's plan of establishing a more liberalized and open shipping system, it is expected the volume of freight traffic in Yangpu port will dramatically increase.
The People’s Bank of China will further liberalize bond repurchase transactions and push for the use of renminbi derivatives, he added.
I have been encouraged by China's recent moves to further liberalize and be more transparent when it comes to foreign investment and companies.
"The great development that China has achieved in past decades is very important for trade globally, and for attracting companies to China to further liberalize the market," Howeg said.
J. P. Morgan welcomes any decision made by the Chinese government as it continues to liberalize its financial sector further.
The country will open its doors wider to foreign investors and further liberalize and facilitate trade and investment, Premier Li Keqiang said Monday when delivering the government work report in front of thousands of lawmakers and political advisors.
"As more and more areas are liberalized to foreign investment, businesses from almost every industry can find their own growth points," Yang Decai, a national political advisor and professor of economics from Nanjing University, said when discussing the report.
Both sides agreed to liberalize services and investment in the form of a negative list, thereby creating more market space for investors and service providers from both countries, the ministry said, adding that efforts will be made to further expand cooperation in emerging areas such as the digital economy.
They are willing to work with China to further strengthen cooperation in trade, investment, science and technology, infrastructure, e-commerce, health and other fields, promote the development of the Belt and Road Initiative, firmly support free trade and the WTO's authoritative role, continue to liberalize and facilitate trade and investment, and stabilize global industrial and supply chains to achieve inclusive and sustainable growth in the world.
On the demand side, the number of first-home buyers is decreasing and the demand for improved housing is rising, so it is recommended that the second-home purchase policy should be liberalized on a national scale.
Negotiations for ACFTA 3.0 were officially launched early this year to further liberalize and facilitate bilateral trade flows.
To promote RCEP's benefits among the private sector, Kao Kim Hourn, secretary-general of the Association of Southeast Asian nations, said it is necessary to drive more liberalized rules and simplified Customs procedures to help private companies, especially MSMEs.
They upgraded the agreement again and launched subsequent negotiations to further liberalize services and investment based on a negativelist model in December 2020.
In December 2020, the two sides upgraded the agreement again and launched subsequent negotiations to further liberalize service trade and investment based on a negative-list model.
As China's markets have matured and liberalized, global index providers have included more onshore bonds and equities within their benchmarks, which helps attract more foreign capital into the country.
The implementation of the Regional Comprehensive Economic Partnership agreement at the start of last year has propelled China to liberalize and better facilitate trade and investment, improving the country's preparedness to align with high-level global trade rules.
With the RCEP, "we have seen the commitment of member countries trying to liberalize and facilitate trade as well as the facilitation of regional supply chain", said Auramon Supthaweethum, director-general of the Department of Trade Negotiations under Thailand's Ministry of Commerce, adding that the RCEP has helped enhance the country's trade with other member countries, which accounts for around 60 percent of Thailand's total foreign trade volume.
SAFE vowed in the statement that it will continue to deepen reform and opening-up in the foreign exchange sector, liberalize and facilitate cross-border trade and investment, improve the business environment and serve the development of the real economy.
The measures indicate member countries will fulfill their promises to liberalize trade in goods in a relatively short time, and it will vigorously help enhance regional economic integration in East Asia as well as help with economic recovery and growth in the post-pandemic era, CCPIT said.
Notable progress has been made, with several policies and measures rolled out to liberalize and facilitate trade in goods and services at the Hainan FTP.
The successful completion of the negotiations is an important milestone for the WTO's restoration of negotiation function, as well as an important achievement in the development and innovations of international regulatory rules for services trade, which will help further liberalize and facilitate global services trade, according to the statement.
China (Zhejiang) Free Trade Pilot Zone in Zhejiang province has been making great efforts to further liberalize trade in the area as well as promote common prosperity and integration of the Yangtze River Delta region.
As part of the latest measures, the process of importing medical products, including medicine, will be further liberalized.
Through institutional opening-up, this measure will further liberalize trade in services, enhance the general level of liberalization in China and serve the creation of new development dynamics throughout the country, the vice-minister said.
These included a measure that liberalized the application process for yachts registered overseas.
Through institutional opening-up, this measure could further liberalize trade in services, enhance the general level of liberalization in China and serve the creation of new development dynamics in China, he added.
According to Gao, China has rolled out 28 policies and measures to liberalize and facilitate trade in goods and services at the Hainan FTP.
"The paper also recommends the Chinese government to expand pilot programs to liberalize cross-border capital flows as well as establish a more level playing field and optimized business environment for foreign enterprises.
The measures not only provide strong policy support for the development of the Hainan Free Trade Port and promote the "dual circulation" development paradigm, but also show China's determination to further liberalize international trade, help develop an open world economy, and expedite globalization, said Sang Baichuan, director of the Institute of International Business at Beijing-based University of International Business and Economics.
An inclusive RCEP will encourage others to liberalize too, and oppose the ill wind of decoupling and trade war, he said.
It is crucial to further liberalize and facilitate trade and investment, with the vision of achieving a regionwide free-trade agreement, said Wang Shouwen, vice-minister of commerce.
- China will roll out 28 policies and measures to further liberalize and facilitate trade in the Hainan free trade port, an official with the Ministry of Commerce (MOC) said on Monday.
This marks a significant milestone for our China franchise as it enables us to accelerate our plans to strengthen our onshore presence and capabilities, and better capture the compelling opportunities presented by China's dynamic and increasingly liberalized financial markets.
During the third CIIE, important announcements were made to further liberalize China's market to foreign businesses.
A large number of industrial parks between China and ASEAN countries have also contributed to trade and investment cooperation activities, while the recently signed RCEP, which aims to cut tariffs, further open markets and lower barriers to liberalize trade and investment, is set to boost trade and investment and further integrate the regional market, he said.
Involving China, Japan, South Korea, Australia, New Zealand and the 10 member states of the Association of Southeast Asian Nations, the RCEP aims to cut tariffs, open markets and lower barriers to liberalize trade and investment in the member countries that account for about a third of the world's population and economic and trade volume, according to the Ministry of Commerce.
"Nicholas R. Lardy, a senior fellow at the Washington-based Peterson Institute for International Economics and an expert on the Chinese economy, said China has substantially liberalized access by foreign firms to its immense domestic financial market and is now an increasingly important destination for foreign portfolio investment.
According to the Jiangsu Provincial Development and Reform Commission, the adjustment to coal-fired power prices came after the government announced last week it will further liberalize pricing to help coal-based power plants resolve their cost difficulty.
江苏省发展和改革委员会表示，此次对燃煤发电价格的调整，是在上周政府宣布将进一步放开定价以帮助煤电企业解决成本困境之后作出的。
China will further liberalize pricing for electricity generated from coal, in the latest effort to ease the ongoing power shortage and deepen the sector's market-oriented pricing reform, the National Development and Reform Commission said at a news conference in Beijing on Tuesday.
国家发展和改革委员会周二在北京举行的新闻发布会上表示，中国将进一步放开燃煤发电电价，这是为缓解当前电力短缺、深化电力行业市场化定价改革所采取的最新举措。
And will the volume of discounted liberalized power sales increase?
“那么，打折后的自由化电力销售量会增加吗？”
He said China's efforts in promoting green fuel consumption, including a more liberalized market and opening the natural gas market to third parties, will allow more competition in the industry and encourage increased consumption of clean fuel.
China's gas storage facilities, rather than operating independently, have long been auxiliary to the pipelines, which has substantially constrained development and is standing in the way of a more open and liberalized gas sector in the country, she said.
Considering the country's high dependence on oil and gas imports, it's necessary to ramp up construction of gas storage tanks and come up with a more open and liberalized gas sector in the country, said Li Li, research director at energy consulting company ICIS China.
He suggested that instead of fixed premiums for winter pricing, storage facilities should be run independently in a fully liberalized market that reflects price spreads between low and high seasons, which will also provide storage investors with good returns.
Analysts believe insufficient infrastructure, including underground gas storage and natural gas pipelines, is standing in the way of a more open and liberalized domestic gas sector in the country.
The ultimate direction of the reforms, Na said, is to regulate the midstream and liberalize the upstream and downstream sectors.
Industry insiders said the gas shortage that hit China last winter is unlikely to reoccur this year, thanks to rising competition among domestic suppliers, a more open and liberalized domestic gas sector and more international supply agreements.
It has been localizing its Mercedes-Benz cars with BAIC Group and producing electric cars under a brand called Denza with BYD Co. Volkswagen AG CEO Herbert Diess said: "It is a very important move for the Chinese government to open up, to liberalize the market, because it should always be beneficial for additional investment and growth.
China has rolled out an array of measures to facilitate imports and is prepared to further liberalize services and sectors, including manufacturing of ships and planes.
Even so, there are still calls for the financial sector to be liberalized, since foreign investors still have to go through numerous procedures in order to obtain institutional access and expand their business operations.
According to the securities commission, trading rules on the main boards will be further liberalized under the reform.
The central bank will also carry out relevant pilots to further liberalize and facilitate cross-border trade and investment and steadily move ahead with the convertibility of the renminbi under the capital account, the PBOC said in its third-quarter monetary policy report, published in November.
Editor's note: China has made efforts to build up a multi-level capital market in 2021, with financial sector further liberalized.
Lu added China will explore more replicable mechanisms to liberalize cross-border investment and trade and expand financial sector opening-up in the Guangdong-Hong Kong-Macao Greater Bay Area and other regions that spearhead China's financial opening-up.
China has yet to fully liberalize its capital account, with programs such as the QDII and Qualified Foreign Institutional Investors (QFII) providing financial institutions with quotas for outbound and inbound investment, respectively.
"In particular, as China continues to liberalize the capital accounts, the opportunity for a bank like us to make more connections between China and the rest of the world is very key.
For rice and wheat, whose prices are not fully liberalized, farmers are advised to choose full-cost insurance, the vice-minister said.
China has yet to fully liberalize its capital account, with programs such as the QDII and Qualified Foreign Institutional Investors providing financial institutions with quotas for outbound and inbound investment, respectively.
The priority of China's approach to capital account opening is for foreign capital inflows, and then, to gradually liberalize outflows, which can also foster the international use of the renminbi, said experts.
China should continue to liberalize and open up these markets, but flows of money need to be controlled, especially in the current extraordinary situation.
The above three schemes are designed for outbound investment as China has yet to fully liberalize its capital account, which records the cross-border capital flows mainly for investing in financial assets.
Over the long term, the liberalized trading rules will couple with registration-based reform to give a greater role to the market in selecting and nurturing quality firms, Yin said.
The connection of the select tier with the exchange markets, in tandem with more liberalized trading rules, will boost liquidity condition in the select tier and help rationalize the share prices after they debut on the tier following initial volatility, Wang said.
The mechanism aims to liberalize cross-market capital flow to form a unified market and same trading prices, so as to facilitate monetary policy transmission and strengthen the capacity of the bond markets in serving the real economy, a PBOC statement said.
The phase one trade agreement and the bilateral commitment to further liberalize the financial industry have boosted corporate confidence.
The bullish sentiment toward Chinese bonds was also supported by the expectation that Chinese regulators will further liberalize the onshore financial markets and remove investment barriers for foreign investors.
MAS announced in June that it would offer up to two digital full bank licenses and three digital wholesale bank licenses in a bid to liberalize its banking sector, making it more "resilient, competitive and vibrant", according to its website.
"The global experience demonstrates that emerging market economies that liberalized cross-border investments in securities have introduced price-based regulation for risk prevention," said Zhang Xin, deputy director of the SAFE, in an interview with the Xinhua News Agency.
The government also liberalized requirements on stakeholders that plan to set up foreign-invested banks in China and requirements on foreign banks that plan branches in the country.
It may lead to about $3 billion of inflows into China's bond market a month, according to research from Goldman Sachs Group Inc. Mark Leung, Chief Executive Officer of JPMorgan China, said "The inclusion represents an important milestone, as China continues to liberalize its capital markets and looks to connect more global investors to the country.
Domestically, the de facto lending rate of China's interbank market has also been liberalized and decreasing at a steady and comfortable pace for the sake of the real economy and corporate financing.
The reform would liberalize the formation mechanism of the loan prime rate-the price of loans banks offer to their best clients-and use the LPR as the lending reference rate, gradually replacing the one-year benchmark lending rate.
The launch of TSR 20 rubber futures trading is the latest step by China's securities regulator to liberalize the country's futures market after it opened the futures trading of crude oil, iron ore and purified terephthalic acid to foreign investors.
"His comments came after China announced a set of new measures to further liberalize financial services.
China decided to open up its bond market as part of a larger push to liberalize the capital account.
"Talking about how to make the Chinese gold industry more influential on a global scale, he said China indeed has a lot to offer to the rest of the world and suggested the country should constantly further liberalize the market, be more open to the rest of the world, allow more participation and engage with participants as much as it can.
The Toronto-based Manulife Financial said in a report seen by China Daily website at the China Development Forum on Saturday that the Chinese government has made important progress toward mitigating future potential risks, as it has adopted measures to strengthen financial regulation and liberalize financial markets over the previous years, including launching a policy campaign to deleverage the financial sector, which focused on reducing risks related to shadow banking activity.
Besides, the PBOC will fully liberalize bond repurchase transactions at the right time and push hard with the utilization of the market for renminbi derivatives," said Pan at the China Bond Market International Forum in Beijing.
However, currency imbalances caused partly by the accumulated trade surplus, and continuous injections of liquidity in the domestic financial system while maintaining a not yet fully liberalized capital account have led to asset bubbles in real estate and stock market volatility, said Ngai.
"China will further open up some nonconvertible items under the capital account, and those already convertible will see more liberalized trading," he said.
Foreign investors may participate in China's treasury bond futuresForeign investors may soon be allowed to participate in China's treasury bond futures market, as the securities regulator contemplates more steps to open the bond market and liberalize the interest rate system.
China's domestic bond market is expected to remain appealing to overseas capital as the amount of bonds held by overseas investors has increased drastically since last year, and the Chinese government steps up its efforts to liberalize the domestic market.
"China will further open up some non-convertible items under the capital account, and those already convertible will see tradings more liberalized," said Pan Gongsheng, deputy head of the People's Bank of China, at a forum in Shanghai.
Easing of curbs on overseas investors will help facilitate more capital flowsForeign investors are expected to increase their fund allocation in China's A-share market as the new rules for the Qualified Foreign Institutional Investor and the RMB Qualified Foreign Institutional Investor programs will liberalize capital flows and improve forex risk controls.
"If the Chinese market continues to liberalize to the point of warranting full inclusion in the future, Chinese stocks -- A shares and other share classes -- could comprise more than 40 percent of the MSCI Emerging Markets Index," Chia said.
The latest set of measures to further liberalize the capital markets reinforces that desire.
Chinese policymakers and financial regulators are pushing to further liberalize the onshore markets.
The indices usually require the local debt market to reach investment grade, the currency should be freely tradable, convertible, and hedgeable, and the capital market should be liberalized.
"As banks continue to adapt to the liberalized rate environment, especially with funding cost pressure, and the central bank strengthens the interest rate corridor further, we see those efforts as necessary preparation for the convergence of benchmark rates and effective interest rates in the future," said Sophie Jiang, an analyst with Nomura Securities.
"We expected faster adaptation to more liberalized interest rates, especially deposit rates both at commercial banks and under the so-called macro prudential assessment framework," she said.
At the same time, Shanghai will continue to liberalize its financial market to become a more active financial hub.
This stance is in line with the shifting reality: economic growth has slowed, a credit binge has fueled risks, markets have become more liberalized yet volatile, while transition to a more sustainable and high-quality economy is imperative.
Chinese banks are faced with key challenges, including slower economic growth, liberalized interest rate market, the rise of internet finance and the trend of financial deleveraging, which make the role of their top leadership a crucial factor for the banks to achieve sustainable success, the report said.
Still, the New York-based multinational banking and finance house applauded the decision to further "liberalize" the sector.
"JPMorgan welcomes any decision made by the Chinese government that looks to liberalize its financial sector further," the bank stated.
"The Chinese currency has taken steady steps on its global march and the yuan's use on the capital account has been liberalized steadily," said a People's Bank of China (PBOC) report.
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