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China sets economic reform priorities for 2014

English.news.cn   2014-05-20 23:23:30

BEIJING, May 20 (Xinhua) -- China's top economic planner on Tuesday released economic priorities for 2014 in a plan that has been approved by the State Council, the country's cabinet.

The National Development and Reform Commission said authorities will cut red tape and slash items that need administrative approvals.

China will continue to expand the scope of value-added tax (VAT) and move to regulate financing of local government.

A new mechanism of the yuan exchange rate will be developed and volatility of the rate increased. Capital account convertibility will expand in an orderly manner.

Eligible private investors will be allowed to start financial institutions like small or medium banks and invest in established ones.

As prices are stable, China will reform prices of resource products and in sectors including transportation, telecommunications, pharmaceuticals and health care.

State-owned enterprises (SOEs) will move towards mixed ownership through a cooperation mechanism between state and social capital.


Commentary: Cool heads needed in viewing China's economy

BEIJING, May 15 (Xinhua) -- Recent statistics show China's industry, investment and consumer price index grew at a slower pace, but these are temporary fluctuations and no cause for panic as several upbeat signals were easily overlooked amid the gloom.

Every coin has two sides. China's Consumer Price Index increased 1.8 percent year on year in April, much lower than the 2.4 percent in March. But the positive view is that China has no worries about inflation and is in a strong position to keep its interest rates low. Full story

Xinhua Insight: Property bubble will not wreck China's economy

BEIJING, April 26 (Xinhua) -- Economists from China's leading think tanks have dismissed predictions that a possible property meltdown would trigger a crisis or even a crash in the world's second largest economy.

"It can be said that China's property bubbles are now the biggest risk in its economy, but bearish talk of a collapse of the whole economy smells of ulterior motives," Wang Xiaoguang, a researcher at the Chinese Academy of Governance, told Xinhua. Full story

Editor: Tang Danlu
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