Pri­or­i­ties an­nounced for eco­nomic re­forms


China’s State Coun­cil, or cabi­net, re­leased an an­nual eco­nomic re­form plan for 2015, lay­ing out 39 tasks in eight ar­eas.

The Na­tional Devel­op­ment and Re­form Com­mis­sion, the coun­try’s top eco­nomic plan­ner, for­mu­lates the plan ev­ery year, which is widely deemed as a mini ver­sion of the an­nual gov­ern­ment work re­port de­liv­ered by the pre­mier in March. Com­par­ing it with pre­vi­ous plans, an­a­lysts said the 2015 doc­u­ment high­lighted the sig­nif­i­cance and ur­gency of fur­ther and quicker re­forms in State-owned en­ter­prises (SOE) and the fi­nan­cial sec­tor.

The 2015 plan listed SOE re­forms as the sec­ond most im­por­tant as­pect, com­pared with a fourth place in the 2014 doc­u­ment. The plan said the gov­ern­ment will make or re­vise 16 sets of reg­u­la­tions to rein­vig­o­rate the public sec­tor: re­struc­tur­ing centrally ad­min­is­tered SOEs, low­er­ing mar­ket thresh­old for pri­vate in­vestors and over­haul­ing the su­per­vi­sion mech­a­nism to pre­vent losses of State as­sets.

“This is the first time for the gov­ern­ment to elab­o­rate on the di­rec­tion of SOE re­forms,” said Li Jin, chief re­searcher with the China En­ter­prise Re­search In­sti­tute.

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