The recently held Central Economic Work Conference deployed a number of key reform tasks in various areas, including the formulation of regulations for the construction of a unified national market, the in-depth rectification of "internal competition", the formulation and implementation of plans to further deepen the reform of state-owned assets and enterprises, the improvement of local tax systems, and the deepening of the reduction and improvement of small and medium-sized financial institutions. Experts say that the key reform tasks for next year are targeted accurately, emphasizing both the establishment of institutional construction and the removal of obstacles. With the implementation and effectiveness of relevant measures, the driving force and vitality of economic development are expected to continue to increase. Targeted measures to promote the construction of a unified large market with super large scale and great growth potential are a huge advantage for China's development and a solid basis for responding to changes. However, there are still some phenomena that distort market mechanisms and hinder fair competition in real economic activities, especially the prominent problem of "involution" competition. The construction of a unified large market across the country still faces many bottlenecks, which affect the smooth circulation of the economy. The Central Economic Work Conference proposed to formulate regulations for the construction of a unified national market and to thoroughly rectify "internal competition". When interpreting the spirit of the meeting, relevant officials from the Central Finance Office stated that more targeted measures will be taken next year to further enhance the effectiveness of the construction of a unified large market and achieve efficient allocation of various resource elements. At the market level, it is necessary to continuously improve market operation rules, accelerate the formulation of national unified market construction regulations, and improve basic systems such as market access, fair competition, and quality standards. Efforts will be made to break down barriers in areas such as factor acquisition, qualification certification, bidding, and government procurement. At the government level, it is necessary to continuously regulate the economic promotion behavior of local governments. Accelerate the issuance of a list of encouraged and prohibited items for local investment promotion, and draw a clear red line and bottom line. At the enterprise level, we need to thoroughly rectify the "internal competition" and accelerate the improvement of the production capacity regulation mechanism in key industries. By unifying the system, we can break through market segmentation, establish national regulations for the construction of a unified large market, rectify 'internal competition', remove barriers to factor flow, eliminate local protection and market barriers, guide enterprises to shift towards innovation driven quality competition, and lay a solid foundation for fair competition. ”Peng Shaozong, Vice President of the China Economic System Reform Research Association, said. The Central Economic Work Conference proposed to develop and implement a plan to further deepen the reform of state-owned assets and enterprises, and to improve the supporting laws, regulations, and policies for promoting the private economy through two-way efforts to stimulate the vitality of micro entities. The conference will activate micro entities through two-way efforts, implement the 'two unwavering' principles, and consolidate the endogenous driving force of economic growth, "said Peng Shaozong. The relevant departments have clarified the specific reform measures for the next step. The State owned Assets Supervision and Administration Commission of the State Council recently held a meeting to convey the spirit of the Central Economic Work Conference, proposing to further deepen the reform plan of state-owned assets and enterprises, improve the management of main responsibilities and main businesses, and enhance the effectiveness of strategic functions; Improve the modern enterprise system with Chinese characteristics and enhance the effectiveness of governance system construction. The Comprehensive Department of Institutional Reform of the National Development and Reform Commission recently wrote an article stating that it is necessary to continue to promote fair opening up of infrastructure competitive fields to various business entities, improve the long-term mechanism for private enterprises to participate in national major project construction, and support capable private enterprises to take the lead in undertaking national scientific and technological research and development tasks. The Central Economic Work Conference also proposed to accelerate the clearance of overdue enterprise accounts and promote the win-win development of platform enterprises, platform operators, and workers. The reform aims to highlight the bottlenecks and difficulties that business entities feel strongly about, "said Huang Wentao, Chief Economist of CITIC Securities. Xiao Weiming, Deputy Secretary General of the National Development and Reform Commission, revealed at the 2025-2026 China Economic Annual Conference that comprehensively promoting the action of accelerating the clearance of overdue corporate accounts is one of the important measures for China to continuously optimize the business environment in the coming years. For individual contracts or projects with outstanding debts of less than 500000 yuan, they must be fully cleared by the end of 2025. The series of fiscal, taxation, and financial reform measures will be promoted. The Central Economic Work Conference has also deployed a series of fiscal and financial reform tasks, proposing to improve the local tax system; Deepen the reduction and improvement of small and medium-sized financial institutions, and continue to deepen the comprehensive reform of capital market investment and financing. Yuan Haixia, President of the China Chengxin International Research Institute, stated that improving the tax system and streamlining the relationship between the central and local governments is one of the core principles of deepening the reform of the financial and tax system during the 15th Five Year Plan period. It is necessary to maintain a reasonable macro tax burden level, further streamline the relationship between the central and local governments, and reasonably divide powers and responsibilities. Improving the local tax system points to the practical problem of local financial difficulties. Against the backdrop of the need to improve the matching of central and local administrative and financial powers, as well as the increasing pressure of rigid local expenditures, it is necessary to enrich the available financial resources of localities through the reform of the tax system. ”The chief economist of CITIC Securities clearly stated that the next step is to move the consumption tax collection process backwards and steadily lower it to the local level, and to study the merger of urban maintenance and construction tax, education surcharge, and local education surcharge into local surcharges. In the financial sector, the Central Economic Work Conference proposed to deepen the reduction and quality improvement of small and medium-sized financial institutions. Guo Lei, Chief Economist of Guangfa Securities, stated that as part of risk prevention and resolution efforts, the merger and restructuring process of small and medium-sized financial institutions may accelerate. This year's government work report proposes to promote the risk management and transformation development of local small and medium-sized financial institutions in accordance with the principles of marketization and rule of law, and comprehensively adopt methods such as supplementing capital, mergers and acquisitions, and market exits to classify and resolve risks. The tone of 'deepening promotion' may indicate the direction for the next steps in this field