Binning seals and delegating power to revitalize market
China Daily | Updated: 2018-03-12 07:44
BEIJING - On a wall of the administrative service center in Handan, Hebei province, 2,894 out-of-use official seals are displayed to show visitors how much authorities have done to cut red tape.
They are an epitome of the progress China has made in streamlining administrative approvals and delegating power to lower levels, a key reform aimed at boosting market vitality in a slower economy.
China was ranked 78th out of 190 economies in ease of doing business, according to a 2017 report by the World Bank, up from 96th rank in 2013.
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