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Print[Ferro-alloys.com] Premier Li Keqiang chaired a State Council executive meeting on September 25th, which revised the catalogue of investment projects that needed official approval and made plans to intensify efforts further to promote construction of affordable housing.
The conference showed that as the economic environment, scientific and technological progress and industrial development changed, the approval catalogue introduced in 2004 had no longer fully meet practical needs. Instant revisions must be to bring Market-mechanism into play better, promote industrial upgrading and reduce governmental intervention on micro affairs. The government should transform management style, improve management efficiency, and prevent rent-seeking & corruption, so that social investment vitality could be boosted.
To deepen transformation of governmental function and release reform bonus constantly, the conference decided to cancel and delegate anther 75 administrative approvals. So far, 221 approvals had been cancelled or delegated by the new government and the effect on arousing market and social vigor was emerging.
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