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NDRC: Economic restructuring makes new progress
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09:13, August 03, 2009

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Despite months of a gobal recession there has been progress in restructuring the Chinese economy. The National Development and Reform Commission says this is clear in seven areas from state-owned enterprises to the social welfare system.

According to the top economic planner, central government-owned firms have undergone active restructuring since the start of the year. And that's brought their total number from 142 down to 136. While in rural areas, financial services have been expanded in order to make credit more accessible to farmers.

In the area of price control, reforms in the pricing of refined oil have been carried out nationwide. Preferential tax policies have also been offered to environmentally friendly firms to encourage sustainable development.

The NDRC says it has also seen progress in other areas such as healthcare, export subsidies, the contracting of rural land while providing more pilot zones for comprehensive reforms.

Source: CCTV.com

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