Premier Wen lays out key areas for deepening economic reforms in 2011

08:43, April 21, 2011      

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Chinese Premier Wen Jiabao on Wednesday laid out the key areas for deepening reforms in the country's economic system in 2011 with a view to balancing government with market, economic growth with social progress, deepening reforms with maintaining stability, and addressing current challenges in improving systems and mechanisms.

In 2011, the first year of the 12th Five-Year Plan (2011-2015), "we need to be more resolute and courageous in pushing forward reforms in major areas and key links," Wen told an executive meeting of the Cabinet, the State Council.

"We should pay greater attention to the top-level design and overall planning and accelerate the eradication of defects embedded in systems and mechanisms that hinder scientific development," the premier said.

Carrying forward the reform of the economic development pattern, which includes quickening reforms to turn state-owned enterprises into stockholding corporations, and formulating open and transparent market access criteria and supporting policies for non-government investment, are the priorities, said Wen.

Reforms should also be deepened in the system of income distribution, social security system, household registration management, among others, to ensure and improve people's well-being, said Wen.

Reforms of administrative systems should be deepened to strengthen efforts to promote clean government, said Wen, noting that reforms of the administrative approval systems should be deepened and the administrative accountability system should be strengthened.

The premier also urged efforts to be made to deepen rural reforms, which include improving the policy and measures for maintaining the rural land contract relationship for a long period of time and establishing a compensation mechanism for farmland protection.

The executive meeting also decided to add another 18 billion yuan (2.76 billion U.S. dollars) to the fund for building public rental housing and low-income housing, renovating run-down areas and building other supporting infrastructure, according to a statement released after the executive meeting.

Another 12.3 billion yuan would be allocated for extending the trial of a new type of pension insurance for rural residents to 60 percent of all counties, instead of the current target of 40 percent, said the statement.

Source: Xinhua
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