The Ministry of Industry and Information Technology (MIIT) said Wednesday that it will slash the list of items requiring its administrative approvals by at least a third by 2015 to minimize its influence on resource allocation, China News Service reported the same day. Resource allocation should be determined more by the market, the ministry said. It also said that it will continue to encourage and facilitate private capital into the domestic telecom industry. The ministry said it will play an active role in formulating policies relating to taxation, financing, pricing of resource products and state-owned companies, according to the report.
– Contact HKEJ at [email protected]