China Lists Several Tasks to Help Propel Economic Reforms this Year
The top economic planner in China have listed several major tasks that will help propel economic reforms this year including the reform of State owned enterprises, investment, urbanization market supervision, innovation and opening up. The country will initiate the mixed ownership pilots of SOEs that will push forward the reforms in oil, natural gas, electricity and salt industries in a statement that was released after the meeting of the National Development and Reform Commission.
China’s top economic planner has listed major tasks in propelling economic reforms this year, including reforms of State-owned enterprises (SOE), market supervision, investment, urbanization, and opening up and innovation. Red ape will be further cut and government will improve market supervision this including compiling negative list that enhances market access regulation. The market threshold of some industries is lowered for investors and current investment and financing schemes are improved. The country will also implement a household registration reform to hopefully urbanize more rural migrants in a plant to help 100 million people in settling in cities.
China will implement the household registration reform to urbanize more rural migrants with a plan to help 100 million people settle in cities. China will push forward the opening up of the Belt and Road Construction thus promoting international production capacity cooperation, opening further the manufacturing and service sectors while establishing a negative list for foreign investment. Better support from the government will be given to innovation and entrepreneurship and other tasks from accelerating pricing reform in electricity, medical and transport services and improving the use of natural resources to better protect the environment.