Business / Policy Watch

China to build unified resource trading platform by 2017

(Xinhua) Updated: 2015-08-01 13:01

BEIJING - China aims to integrate public resource platforms and foster a unified system by the end of June 2017, the State Council announced on Friday.

By the end of June 2016, local governments will be required to complete the integration of platforms such as those for construction project bidding, trading of land use rights and government procurement, with an aim to form a regulated, unified and transparent national system a year later, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

The move is intended to improve government efficiency, prevent corruption, and allow easier resource access for start-ups and entrepreneurs, the statement said.

The creation of a transparent information sharing platform is the latest of government efforts to streamline administration and let the market play a bigger role in resource allocation.

Earlier this month, the State Council began the process of severing the traditionally close relationship between government and trade associations. Starting in 2018, the government will stop directly sponsoring these associations and instead contract their services as outside agents.

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