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China to boost economic reform in key industries
The State Council said Thursday that it has approved a reform plan for 2012 mapped out by the National Development and Reform Commission (NDRC).
The government will deepen pricing reforms for resource products and work on implementing tiered electricity pricing for residential users, as well as create a market-based refined oil pricing mechanism, according to a document posted on the State Council's website.
The government is working on detailed measures to encourage private businesses to enter the railway, finance, energy, telecommunications and education sectors, the document said, adding that more resources will be used to foster financial institutions that can serve the agricultural industry and small-sized businesses.
China's interest rate formation mechanism will become more market-directed and a new stock issuance and retreat system will be improved, the document said.
The government will deepen pricing reforms for resource products and work on implementing tiered electricity pricing for residential users, as well as create a market-based refined oil pricing mechanism, according to a document posted on the State Council's website.
The government is working on detailed measures to encourage private businesses to enter the railway, finance, energy, telecommunications and education sectors, the document said, adding that more resources will be used to foster financial institutions that can serve the agricultural industry and small-sized businesses.
China's interest rate formation mechanism will become more market-directed and a new stock issuance and retreat system will be improved, the document said.
