Some Chinese investment projects, including those for airports, paper pulp factories and gas fields, will no longer need pre-approval from the nation’s economic planning agency.
In all, 117 “approval items” can go ahead without authorization or be approved by local governments, according to a list published by the State Council on May 15.
Premier Li Keqiang pledged to reduce the government’s role in the world’s second-biggest economy after a new leadership took over in March. In comments published this week, Li signaled authorities are reluctant to use stimulus to counter a slowdown, saying China must rely on market mechanisms to aid growth.
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Xin Zhou, Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/hDToFSWHJzM/
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