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21 March 2013

Chinese gvt to free economy from red tape

According to an article titled "China's new cabinet vows to cut red tape" published by People's Daily of March 19, the newly-elected State Council has given top priority to modernising "government functions". Premier Li Keqiang had chaired an executive cabinet meeting on the day before, "advocating that transforming government functions is the key to further reforming administrative systems and developing a market economy and an economy ruled by law. Cutting red tape will be a breakthrough in achieving the transformation of government functions, according to a statement from the meeting. In a bid to let the market play its role and empower social forces, the government has vowed to take drastic action to reduce items that demand official approval or transfer such power to lower levels, the statement said. To invigorate the economy and society, the government has also vowed to refrain from intervening in micro issues, the statement said. The government will strengthen macro management and focus more on key influential issues in a bid to improve its scientific management levels, the statement said." Behind the rather emphatic language, the determination to continue liberalising the economy seems genuine.

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