(MENAFN- QNA) Chinese premier Li Keqiang has outlined the country's economic reform targets for the rest of the year, focusing on further reducing approval reviews on investment and granting enterprises more autonomy.
China Radio International said the Chinese Premier made the remarks while chairing a State Council executive meeting on Wednesday.
"The cetnral government will further relegate administrative power to local governments. In the meantime, we'll step up supervision during and after the approval procedure so as to form a transparent 'sunshine government'."
According to a statement issued after the meeting, investment in 15 categories, including urban roads, water supplies and chemical fertilizers, will no longer need government approval.
"We need to push projects, especially in nine areas like railways in the central and western areas, as well as slum renewal. Major projects on key areas like water, environment and communications can also start in the next half. We also need reforms to facilitate financing, operation and private investments in these projects."
The statement also notes that all overseas investment, as long as it is not subject to regulatory prohibition, will be exempt from reviews. Enterprises will only be required to register with authorities rather than wait for a green light from the government.
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