Country to rectify budget implementation problems

The executive meeting of the State Council, China’s Cabinet, on Wednesday decided to rectify problems found in an auditing inspection on budget implementation last year and push forward major projects across the country. A statement released after the meeting, presided over by Premier Li Keqiang, said better management of public funds is important to the implementation of a proactive fiscal policy to promote steady economic growth and improve people’s lives. In the next step, malpractices in public fund expenditure will be rectified one by one. Reform measures such as administrative streamlining and valueadded tax should be further carried out to serve projects in cutting overcapacities, poverty relief and environmental protection. Meanwhile, supervision will be strengthened in key areas to prevent risks when managing public funds and healthcare insurance funds. A long-term mechanism will be established to curb actions leading to any misbehavior in the rectification campaign. The meeting required rectification outcomes to be submitted to the State Council by the end of October. on enterprises. The country will establish an integrated national system for cargo clearance to reduce the time by one third this year. Taxes and business fees will be further reduced through measures such as issuing uniform electronic value-added tax invoices for highway tolls. Transportation authorities and police will crack down on illegal activities but avoid repetitive punishment. Infrastructure and amenities will be improved for national logistics hubs and major logistics routes. In addition, the nation will also boost the development of third-party logistics, and promote standardized information technology-enabled management of logistics vehicles and facilities. The General Office of the State Council has released a notice on accelerating the development of commercial endowment insurances as part of its efforts to improve the social security system for the elderly. These insurances should earn reasonable returns while fund safety is ensured, according to a statement of the State Council. Capital stemming from these insurances is encouraged to build nursing homes for the elderly in forms of investment, share purchases and trusteeships. Companies selling commercial endowment insurances will get support to offer customized services to elderly customers while presenting products and services of entrepreneurial and occupational annuities. Meanwhile, other forms of such insurances will also be boosted, including those covering accidental injuries and long-term caring for the elderly. Supportive policies will be granted in this area while governmental supervision will be reinforced to safeguard legal interests of consumers and prevent financial risks. The notice came after what was decided at a State Council executive meeting, presided over by Premier Li Keqiang on June 21. The National Commission of School Textbooks, headed by Vice-Premier Liu Yandong, was established to manage affairs related to school textbooks, according to a State Council notice released on Thursday. As the document said, the commission will guide overall work on textbooks, and study and approve the annual work plan for the books in addition to other major issues, the notice said. The commission is also obligated to guide, organize and coordinate different regions and departments to work on textbooks, and review the nation’s curricula while setting standards for textbooks. Chen Baosheng, minister of education, became the commission’s deputy head while officials from another 23 ministeriallevel departments are also members of the commission. Also under the commission is a committee consisting of 27 experts, including Wu Yueliang, professor and vice president of the University of Chinese Academy of Sciences.