The sixth meeting of the Central Financial and Economic Commission was held on July 1st, which proposed to "deepen the construction of a unified national market" and made relevant arrangements. It is worth noting that the meeting pointed out that the basic requirements for promoting the construction of a unified national market in depth are "five unifications and one openness", which includes unifying the basic market system, market infrastructure, government behavior standards, market supervision and law enforcement, and factor resource markets, and continuously expanding domestic and foreign opening up. In previous years, the relevant work of the competent authorities on the construction of a unified national market has been summarized as "five unifications and one elimination", which includes strengthening the unification of market basic institutional rules, creating a unified market for elements and resources, promoting high-level unification of commodity and service markets, promoting high standard connectivity of market facilities, promoting fair and unified market supervision, and eliminating local protection and market segmentation. What does the change in wording mean from "Five Unifications and One Elimination" to "Five Unifications and One Openness"? Wu Chaoming, Chief Economist of Caixin Financial Holdings, stated in an interview that the change in wording from "five unifications and one breakthrough" to "five unifications and one opening" is not only a terminology adjustment, but also an upgrade in strategic thinking, reflecting the deepening of the strategic focus and connotation upgrade of the construction of a unified national market, and reflecting the systematic transformation of policies from "breaking barriers" to "establishing new ones" and from internal integration to internal and external coordination. The core difference between the two wording is the shift from 'breaking down barriers' to' empowering openness'. ”Wu Chaoming said that the "one breakthrough" focuses on solving administrative barriers and institutional obstacles in the domestic market, such as local protectionism and market access restrictions; The concept of "One Open" emphasizes two-way openness and coordination, that is, deepening market-oriented reforms in labor, capital, data and other factors in domestic opening up, promoting regional integration, aligning with international high standard rules (such as CPTPP and DEPA) in external opening up, and expanding institutional opening up. This change in wording reflects China's increasing emphasis on the role of market mechanisms in deepening reforms and promoting high-quality economic development, and its willingness to integrate into the global economic system with a more open attitude. ”He said. Since the release of the "Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a National Unified Large Market" in 2022, the construction of a national unified large market has continued to advance, continuously enhancing and consolidating the advantages of China's large market, and bringing more impetus to high-quality development. Luo Zhiheng, Chief Economist and Dean of the Research Institute at Yuekai Securities, stated in an interview with China Net Finance that building a unified national market can fully leverage China's comparative advantages and economies of scale, enhance and unleash economic growth potential, and accelerate the construction of a new development pattern. The new development pattern requires domestic circulation as the mainstay, which involves smooth supply and demand circulation. Building a unified large market is not only conducive to boosting demand from the demand side, but also to improving supply quality and industrial chain resilience from the supply side. Against the backdrop of many uncertain factors in the current international environment, long-term accumulated contradictions in the domestic economy are still emerging, and the foundation for economic recovery still needs to be consolidated, it is of great significance to deepen the construction of a unified large market across the country. One is to activate the advantages of a super large scale market, unleash the potential of domestic demand, enhance economic resilience, and cope with external uncertainties; The second is to smooth the economic cycle and overcome key bottlenecks, such as reducing logistics costs that account for 14.1% of GDP, while optimizing resource allocation to consolidate the foundation of recovery; The third is to promote institutional openness, align with international rules, promote the integration of domestic and foreign trade, and seek productivity from openness; The fourth is to empower new quality productivity, break down innovation barriers, optimize industrial layout, eliminate 'internal competition', and support high-quality development. ”Wu Chaoming summarized that deepening the construction of a unified national market can break down barriers, facilitate circulation, and hedge against downward economic pressure in the short term; In the medium and long term, it will reshape the global competitive advantage and support Chinese path to modernization with institutional openness. To promote the construction of a unified national market, it is necessary to further clarify the relationship between the government and the market, as well as between the central and local governments, in which taxation plays a key role. The meeting proposed to establish a sound financial and tax system that is conducive to market unity. Luo Zhiheng stated that a scientific and effective financial and tax system is an important institutional foundation for maintaining market unity. For example, by regulating tax incentives and reducing tax havens, we can avoid tax interference with the normal flow of production factors, and the neutral role of taxation will not interfere with competition among enterprises. For example, by unifying subsidy standards at the expenditure end, enterprises will face fair rules, and will focus more on technological innovation research and development and upgrading product and service quality, promoting technological innovation and market fairness