Chen Weiliang with the National Development and Reform Commission speaking at a press conference on Wednesday, September 16, 2015. [Photo: Xinhua] China"s National Development and Reform Commission says a series of measures of economic reforms in the country has begun to show positive results. CRI"s Min Rui has more.
Chen Weiliang with the National Development and Reform Commission says as new measures streamline the administration, decentralization authority, and modernize state-owned enterprises, results are being noticed. "Numbers for new registered businesses in 2014 went up nearly 46%, registered capital almost doubled." He also points out that the service sector is showing greater support for economic growth while the impacts of newly approved economic districts are radiating into surroundings areas, driving development. Investment and financing systems are high on the agenda of the deepening reforms. Recent moves such using public-private-partnerships to finance projects in various sectors has generated a fund of nearly 2000 billion yuan, affecting more than 1000 projects. Xu Kunlin, head of the department of fixed assets investment at the NDRC says the government will keep promoting private investment in the deepening reforms. "We have implemented some new policies: some special construction bonds which run on the basis of market operation will be launched to fund some particular projects, which are of great innovation in terms of investing and financing. The second point is encouraging the introduction of social capital to state capital." He also points out, regarding the issue of low yielding investments, we should accelerate the pricing reform and formulate reasonable pricing strategies in the field of infrastructure in order that investors can enjoy stable and reasonable financial rewards. In the latest released negative list for foreign investment, 41 restricted catalogs were cut off from the prior list. Meanwhile, policies were also made to promote Chinese investment going out. Chen Weiliang says the country will further broaden the channels directing foreign financial capital to the economy. "The main goal of promoting the reform is to restructure and open the Chinese economy, make it easier for foreign investment to come in. Now we are testing the negative list policy in all four Free Trade Zones. Not only will it help bring in more foreign investment, but it will gradually be introduced to all areas across the country." He also says foreign investment can help maintain steady growth and so help to achieve annual economic growth targets. NDRC Officials also confirm that reform plans in the oil and natural gas sector is currently under review. For CRI, I am Min Rui. |
