Policy digest

Dealing with auditing problems

At the executive meeting of the State Council on July 7, Premier Li Keqiang called for local authorities and departments to clean up problems discovered during audits and improve the efficiency of public funds through systemic reform. The meeting dealt with auditing problems, improving the supervision mechanism and strengthening inspection of work.

Financing system reform urged

Premier Li Keqiang listened to the work report on the promotion of government and social capital cooperation at the executive meeting of the State Council on July 7. The meeting called for government and social capital cooperation to be propelled forward in order to promote reform of the investment and finance system. It also recommended further relaxation of control over market access. Price reform of water, gas and heat should also be further pushed and related laws and regulations should be further improved, in order to effectively vitalize social investment, it was concluded.

Policy to promote private investment

The State Council has issued an announcement to further promote private investment, which requires the accelerated establishment of a market access negative list system, further relaxation of control over fields including civil airport, basic telecommunication service and exploration and development of oil and gas, the elimination of various thresholds in key areas such as infrastructure construction and public utility, and the introduction of effective measures to improve people's livelihoods, such as with medical treatment, elderly support and education. From the middle of July, the National Development and Reform Commission and related departments will jointly establish inspection groups to investigate some key provinces and regions where private investment has declined sharply.