Business / Policy Watch

Key sectors focus of reforms

( Updated: 2015-03-05 11:04

Premier Li Keqiang delivered the government work report to the press ahead of the annual session of the National People's Congress, highlighting the areas that China will make new breakthroughs this year.

Administration process

Do more to streamline administration and delegate more power to lower-level government and to society in general while improving regulation

Investment and financing systems

Relax market access for private capital and encourage the use of private capital to set up equity funds. And explore the management model of pre-establishment national treatment plus a negative list for foreign investment.

Pricing reform

Reduce the number of categories or items for which prices are set by the government.

Fiscal and tax systems

Introduce medium-term fiscal planning, and increase the percentage of funds transferred from the budgets for state capital operations to general public budgets.

Financial reforms

Establish a deposit insurance system; introduce a system of registration for issuing stocks, and no quota for private investors to establish small- and medium-sized banks and financial institutions

State-owned enterprises

Introduce mixed ownership to State-owned enterprises, and both encourage and regulate equity investment made by non-state capital in SOE investment projects.

Foreign trade

Establish and release a complete list of charges for imports and exports, and to increase the import of advanced technology, key equipment, and important parts and components.

Multilateral, bilateral and regional opening up and cooperation

Uphold multilateral trade systems, work to promote expansion of the information technology agreement, and take an active part in international talks in areas such as environmental products and government procurement.

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