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2.2. Chinese modernization, consistent with the WTO's open, inclusive and green concepts, is the modernization of a huge population, of common prosperity for all, of harmonious coexistence between humanity and nature, of the coordinated pursuit of material and cultural-ethical advancement, and of peaceful development. Based on the above attributes, in order to achieve self-reliance, mutual benefits and win-win results, during the review period, the government of China continued to take practical economic and trade measures to fully stimulate the potential of its internal market and share the opportunities with the world; it vigorously promoted coordinated development and inclusive growth, and explored new drive of opening up to the outside world; it further promoted green and low-carbon development to achieve the sustainable development goal by 2030; it continued to promote reform in key areas, adhered to the strategy of innovation-driven development, and built a high-level socialist market economic system; and it further promoted high-standard opening up, advocated an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, and promoted the vision of building a community with a shared future for mankind.

3.8. The government of China adopted more market-oriented and indirect guiding means, such as public services, technical standards and skills training, to provide inclusive support for enterprises, stimulate the vitality of business entities, promote fair competition, and improve the socialist market economy system. These measures focused on supporting areas with market failure such as technological research and development and innovation, development of small and medium-sized enterprises, green and energy-saving development, and building of public service system. (...)

3.10. In December 2021, the government of China issued the Master Plan for the Pilot Program of the Reform of the Market-oriented Allocation of Factors, which puts forward eight pilot tasks. These tasks include further improving the efficiency of land allocation, promoting the reasonable, smooth and orderly flow of labour, facilitating the role of capital in serving the development of the real economy, promoting the transformation of technology to real productivity, exploring the establishment of rules for data flow, strengthening the building of resource and environmental market system, improving the governance of factor market, and further leveraging the synergistic allocation effect of factors. (...)

3.22. Value-added tax credit refund was implemented. In 2022, to boost the confidence of business entities and stimulate their vitality, the government of China successively included six industries including "manufacturing", "scientific research and technology service", "electricity, heat, gas and water production and supply", "software and information technology service", "ecological protection and environmental governance", "transportation, storage and postal service" and seven industries such as "wholesale and retail", "agriculture, forestry, animal husbandry and fisheries", "accommodation and catering", "residential services, repair and other services", "education", "health and social work", "culture, sports and recreation" into the scope of policy for refunding incremental value-added tax credits in full amount on a monthly basis and refunding outstanding value-added tax credits in a lump sum. (...)

3.26. Holding the concept of a community of life for human and nature, the government of China adhered to the path of green and low-carbon development putting ecological environment as a priority. In January 2024, China issued the Guidelines to Comprehensively Promote the Development of a "Beautiful China", which explicitly put forward the key tasks, such as accelerating the transition to green development, intensifying pollution prevention and control and enhancing the diversity, stability and continuity of ecosystems, as China's contribution to a clean and beautiful world and the global green development.

3.27. Accelerating the transition to green development. During the review period, the government of China issued the Implementation Plan for Accelerating the Establishment of a Unified and Standardized Statistical and Accounting System for Carbon Emissions, the Implementation Plan for Establishing and Improving the Standard Metrology System for Carbon Peak and Carbon Neutrality, the Opinions on Accelerating the Establishment of a Product Carbon Footprint Management System, the Interim Regulation on the Administration of Carbon Emission Trading and the Measures for the Administration of Voluntary Greenhouse Gas Emission Reduction Trading (for Trial Implementation) and other policies and documents to promote the realization of carbon peak and carbon neutrality.

3.28. The government of China made efforts to promote the ultra-low emission transformation of key industries and issued relevant guidelines. Take the iron and steel industry as an example, as of March 2024, about 434 million tonnes of crude steel capacity nationwide had completed the whole process ultra-low emission transformation, and 432 million tonnes of crude steel capacity had finished the key projects transformation. The above capacity accounted for 81% of China's total capacity.

3.29. In April 2024, the government of China issued the Guiding Opinions on Further Strengthening Financial Support for Green and Low-Carbon Development, which optimized the economic policy in support of green and low-carbon development and gave play to the supporting role of green finance. In addition, the government of China also released policies and measures to promote green development in the fields of manufacturing, agriculture, energy, and consumption, providing specific guidelines for accelerating the transition to green development.

3.30. Intensifying pollution prevention and control. During the review period, China successively released policies and measures on pollution prevention and control , sustained improvement of air quality and treatment of heavily polluted water bodies in cities , water ecological environment protection in key river basins, and continued to make further efforts to keep our skies blue, waters clear, and lands clean. With the efforts made through various policies and measures, in 2023, national carbon dioxide emissions per CNY 10,000 worth of GDP remained at the same level as that of the previous year, and the annual average concentration of fine particulate matter (PM2.5) in cities at the prefecture level and above in China was 30 μg/cubic meter, with a decrease of 9.1% compared with that of 2020. The proportion of good surface water bodies nationwide rose to 89.4%, and more than 9,000 nature reserves of various types and at various levels were established. The government of China organized and implemented more than 50 integrated protection and restoration projects for mountains, rivers, forests, farmland, lakes, grassland and deserts, and completed the treatment of an area of 116 million mu (1 hectare approximately equals 15 mu); "China's Shan-shui Initiative" was selected as one of the first ten "World Restoration Flagships Projects" by the United Nations.

3.34. The government of China (...) promoted coordinated development in the Beijing-Tianjin-Hebei region, the development of the Yangtze Economic Belt, accelerated the innovation and development of the Guangdong-Hong Kong-Macao Greater Bay Area, implemented the integrated development plan for the Yangtze River Delta, accelerated the construction of Hainan Free Trade Port, and continued to promote ecological conservation and high-quality development in the Yellow River basin.