Reforms to the PRC social credit system aim to address the persistent lack of access to finance and to strengthen the flow of goods, services, and capital within the domestic economy.
In rapidly evolving economies, a joined-up national market is taken for granted. Yet in the PRC, the past two decades+ of turbocharged growth are often credited to the very absence of such integration.
For PRC industrial ‘mother machines’ to transition from mere scale to genuine strength, Beijing must integrate standards, pilot programs, finance, industrial clusters, and AI. This transformation also hinges on firms successfully developing CNC tech and other core components.
Under pressure of US disdain for multilateral trade norms—global trade is showing signs of breaking into blocs. Beijing is responding with unilateral moves, both opening and closing. It has rolled out a sanctions and export-control regime for ‘dual use’ goods and strategic tech, and passed trade laws with extraterritorial scope, learning from the US model. At the same time, under the slogan of ‘unilateral opening-up,’ it is making moves that expand Beijing’s circle of like-minded partners, including visa-free travel and lowering restrictions on foreign direct investment.