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The government should supervise and guide the market instead of doing everything itself, says an editorial in China Youth Daily. Excerpts:
The acting governor of Shandong province, Guo Shuqing said at a meeting that the government can't solve everything, and it's important to change the authorities' function and let the market and society take effect.
High cost is the natural defect of government, and it's a good thing that officials realize it. To be more efficient, authorities should let the market and society do their jobs.
But authorities should not ignore effective guidance and supervision, especially on providing public services. The market emphasizes efficiency and profit rather than fairness and justice, which should be regulated by authorities. And authorities should not be stakeholders in the market. Otherwise, they can't effectively supervise market functions and the allocation of public resources.