China economic restructuring presses on seven jobs this year

News came from National Economic Restructuring Working Symposium held on May 26 that work on economic restructuring this year presses on seven jobs.

Fan Hengshan, director-general of Department of Comprehensive Restructuring of Economic System of National Development and Reform Commission, said economic restructuring has seven key jobs this year, that is, to further adjust and improve ownership structure and continue to advance reform of state-owned enterprises; deepen reform in rural areas and inject new vigor into the development of rural economy; deepen the reform on financial, taxing, investment and pricing systems and improve macro control system; deepen administrative system reform and expedite the transition of government function; further open up market and establish a sound modern market system; deepen reform on employment and income allocation system and improve social security system; promote system reform in the social field and plan the coordinated development of economy and society. The implementation of the Opinions is a major reform work this year. The reform work should be creatively carried out in light of the current situation.

Five breakthroughs

Fan Hengshan, director-general of Economic Comprehensive Restructuring Department of National Development and Reform Commission, explained these five breakthroughs as follows.

China's ownership system restructuring is picking up speed and mixed ownership economy is developing rapidly. State-owned, collective-owned and private-owned capitals show growing force of integration. Mixed-ownership economy is developing rapidly becoming a major ownership form and showing strong vitality.

The construction of modern enterprise system becomes standardized and the managing mechanism of monopolized industries is improved considerably. As stock ownership structure is being adjusted the juridical person governance mechanism of stock companies, particularly state-holding companies is further improved. A mechanism of cooperation and effective balancing and checking has formed among board of shareholders, board of directors, board of supervisors and managers.

Construction of modern market system is forging ahead and basic markets continue to develop. While continuing to promote the marketization of pricing, particularly the marketization of basic prices, price supervision and control system is further improved. We should continue to break industrial monopoly and regional blockage, enhance the free flow and full competition of products nationwide and rapidly develop modern circulation mode.

Macro-scale reform is deepening and the innovation force of governmental system is growing. Reform on investment system is gathering force and the scope of governmental investment is shrinking. The investment decision-making power of enterprises is expanding; investing bodies are diversifying whilst the diversified mode of investments means has basically taken shape. Governmental institution reform is pushing ahead. Integrated economic departments and law enforcing and supervisory departments have been reinforced. Social security system is improved continuously and allowances for the poor are reinforced.

By People's Daily Online