23 October 2018

NDRC to ramp up investment, financing and price reform

The National Development Reform Commission (NDRC) will increase its efforts to implement reform in the investment and financing markets and in the pricing of natural resources, it said in a statement on its website.

The announcement came one day after the Communist Party unveiled a raft of directives to restructure the economy at the end of a four-day closed-door plenary session Tuesday.

The NDRC expects significant progress in improving the socialist market economy by pushing reform forward, chairman and party secretary Xu Shaoshi {徐紹史} told senior officials during an internal meeting on Wednesday.

In speeding up reform, the NDRC will take into account the country’s real situation, Xu said. It will increase collaboration among government departments at various levels, he said. 

Zhang Yi {張毅}, vice chairman of the State-owned Assets Supervision and Administration Commission (SASAC), said the decision by the communist leadership to restructure the economy has long-term implications for SOEs.

It will strengthen SASAC’s hand in improving efficiency in SOEs and speed up industrial upgrading and technological innovation.

SASAC said it will establish a mechanism for resolving problems that may arise from the reform process, Zhang said.

– Contact HKEJ at [email protected]


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