Author(s)

JinYa Bai

Affiliation(s)

East China University of Political Science and Law, Shanghai 200042, China.

Corresponding Author

JinYa Bai

ABSTRACT

Adjustment of government-market relations in the context of deepening transformation of the socialist market economy system is not only the core proposition of the theoretical innovation of the socialist market economy with Chinese characteristics, but also the strategic issue of systematic openness in the transformation of the global governance system. This paper takes the fair competition review system as a research sample, and based on the cross-analytical framework of institutional economics and regulatory jurisprudence, systematically explains the regulatory logic and realization path of this institutional innovation on the dynamic adjustment of government-market relations in the transition period. The study shows that the evolution of China' s fair competition review system is characterized by the synergistic evolution of the triple logic of politics, economy and rule of law - in the political dimension, it is the dialectical unity of political leadership and system supply under the centralized and unified leadership of the Party Central Committee, and in the economic dimension, it reflects the deepening demand for the reform of market allocation of factors to break administrative monopoly, while in the rule of law dimension, it shows the deepening demand for the reform of market allocation of factors to break administrative monopoly. The dimension of the rule of law highlights the inherent requirements of the transformation from administrative control to the rule of law governance paradigm. Through the construction of the "pilot-propagation" system implementation mechanism, the dynamic balance between the central coordination of regulatory authority and local exploration of system innovation has been realized, forming a paradigmatic model of gradual and adaptive system innovation. From the perspective of system effectiveness, this model not only effectively regulates the path-dependent inertia of the traditional planned economy system, but also prospectively prevents the externality risk of the neo-liberal governance paradigm, and provides an institutional innovation paradigm for the emerging market economies to build a modern economic governance system in which the government is competent, the market is effective, and the rule of law is in order. The theoretical value of this paper lies in the fact that by revealing the composite power mechanism of political potential, market law and rule of law in the process of China' s institutional change, it not only expands the explanatory dimension of institutional economics theory in transition economies, but also, more importantly, constructs an autonomous knowledge system of the basic theories of competition policy; and its practical revelation lies in the fact that it provides an operational system optimization for the construction of a new era of perfecting the market-determined factor allocation mechanism and advancing the rule of law-oriented business environment. Its practical revelation is that it provides an operable system optimization path for improving the market-determined factor allocation mechanism and promoting the rule of law business environment in the new era.

KEYWORDS

Institutional change; Fair competition review; Government-Market relations; Socialist market economy; Chinese logic

CITE THIS PAPER

JinYa Bai. The Chinese logic of fair competition review under the threshold of institutional change: reconstruction of the government-market relationship based on the transformation of the socialist market economy system. World Journal of Sociology and Law. 2025, 3(1): 7-17. DOI: https://doi.org/10.61784/wjsl3016.

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