HU Jiayong:Fair Competition and Common Development: Establish an Inclusive Mechanism for China’s Economy with Different Types of Ownership

Abstract: Private economy has become an important driving force of China's economic and social development. Although "unwaveringly encourage, and support and guide the development of the non-public sector, so as to foster a structural environment in which economic entities under different forms of ownership have equal access to factors of production in accordance with the law, compete on a level playing field and enjoy equal legal protection" has been put forward formally in the 18th National Congress of the Communist Party of China, there still exist many obstacles in the process towards the common development and fair competition among economic entities under diverse forms of ownership. This article discusses how to build institutional conditions towards fair competition and common development from three aspects: firstly, to build fair legal environment to effectively protect all types of property rights; secondly, to build a free access mechanism of non-public economy; thirdly, to build the institutional environment in which different forms of ownership have equal access to factors of production.

Keywords: Non-public Economy, Fair and Legal Environment, Free Market Access, Equal Access to Factors of Production