Business / Markets

Less gov't intervention in market

(Xinhua) Updated: 2015-03-05 11:32

BEIJING -- China will further streamline administration and delegate more powers to lower-level governments and to society while improving regulation, according to a government work report delivered by Premier Li Keqiang Thursday.

The government would ensure that provincial-level governments make their lists of powers and responsibilities open to the public, said Li at the Third session of the 12th National People's Congress (NPC), China's top legislature.

Local governments must "completely" let go of powers that should be delegated to the market or society, and properly exercise the power of review over all items that have been delegated to them by higher-level governments, the premier said.

The government would cancel all non-administrative review, he said.

"It goes without saying that powers should not be held without good reason," Li said, adding that cuts to government power will be made to boost market vitality.

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