6 December 2019

Govt to streamline fixed asset investment approvals, Xinhua says

The central government is expected to gradually cut the range of fixed asset investments requiring its direct approval by 60 percent, Xinhua reported Monday, citing Lian Weiliang, deputy director of the National Development and Reform Commission. Lian said that so far this year the commission has delegated approval rights for 44 items to lower level authorities and more approval powers would be decentralized in line with decisions made at the Communist Party plenum earlier this month. Procedures will be streamlined for the remaining items requiring approval, the report quoted Lian as saying.

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