China streamlines administration, delegates power to improve business environment: premier

BEIJING, March 11 (Xinhua) -- China has streamlined administration, delegated power, improved regulation and upgraded services to improve its business environment, Chinese Premier Li Keqiang said Friday.

Over 1,000 items for administrative approval had been cancelled or delegated to lower-level authorities, and all items for non-administrative approval had been eliminated, Li told a press conference after the country's annual legislative session.

With the business environment constantly improving, the number of market entities in China has reached 150 million, up by 100 million from a decade ago, Li said, adding that the majority of them are private companies.

Li also noted that China will strengthen supervision over sectors that are closely related to the health and interests of the people, and will improve oversight and regulation of new business models and forms to enable all market entities to compete and develop in a fair and just environment.