(Xinhua News Agency, May 9, 2016. Complete text:) Beijing - Chinese Premier Li Keqiang said Monday [May 9] that efforts to streamline government administration, transform government functions and boost efficiency will be redoubled to spur economic vitality and attract overseas investment.
The premier set out the goals at a national teleconference at the State Council in Beijing.
"Basically, our economic structural reform is to establish a proper relationship between the government and the market, allowing the market to play an essential role in allocating resources," said Li, adding that the key of such a reform is to transform government functions.
One of the government’s key objectives through such efforts is to realize market potential and ensure sustainable economic development.
Since 2013, 618 items of State Council agencies have been canceled, or delegated to lower approval levels, easily meeting, by more than a third, the target for cutting the number of items requiring administrative approval.
Yet Li noted that work remains to be done.
"The government is still involved in areas that it should not be responsible for," he said.
Li stressed that the efforts to streamline administration and scale back government control are being made to meet the requirements for another round of opening up and improve China’s global competitiveness.
"We used to rely on our demographic dividend, yet today, in order to boost investment, we need to rely more on human resources and innovation," he said.
Several officials from both the central and local governments have also introduced their achievements in streamlining administration in the past three years during Monday’s meeting.
The city of Shanghai has applied for its Free Trade Zone, a much reduced negative list for foreign investment which has cut special administrative measures by more than one third.
Consequently, foreign investment programs that ...
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|Article Title||Chinese Premier Urges to Streamline Governance to Spur Economy|
|Source||Current Digest of the Chinese Press, The, No.19, Vol.5, May 09, 2016, page(s):3-4|
|Place of Publication||Minneapolis, USA|