Rules on government investment boost law-based administration

THE STATE COUNCIL, China's Cabinet, issued a regulation on government investment on Sunday. China Daily reporter Li Yang comments:

The regulation, which will take effect on July 1, lays out clearly the purpose, principle and scope of government investment, and outlines the decisionmaking and implementation processes, the legal liabilities and how the performance of an investment will be assessed.

This is China's first regulation on government investment, and it will serve as the foundation for the making of future rules and laws in this field.