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ECONOMY
THIS WEEK> THIS WEEK NO. 38, 2014> ECONOMY
UPDATED: September 12, 2014 NO. 38 SEPTEMBER 18, 2014
Delegating Powers
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The State Council said on September 10 that it will further cut administrative approvals and delegate power to lower-level governments this year in order to promote efficiency and clear obstacles standing in the way of economic growth.

The move is aimed at eliminating up to 200 administrative approval items by the end of 2014. Over the past year, the State Council has cut or adjusted 632 administrative approval items, according to a news conference held by the State Council in Beijing on September 10.

These efforts are being made to spur market dynamics and to ensure that the market is allowed to play a decisive role in resource allocation, said Li Zhangze, spokesman for the Leading Group Office on Reform of the Administrative Approval System of the State Council.

Up for adjustment are approval of investment plans by businesses, daily operation of enterprises and scrutiny of the qualifications of enterprises, organizations or individuals.

"The next step is to speed up the process to transfer government functions and relax restrictions on approvals and confirmations of some professional qualifications," Li said.

He said the abolished items cover a wide range of industries, from telecommunications businesses to aviation and coal mining. Other items, such as freight shipped by water and rail, which previously required Central Government approval, now will only need approval at the provincial level.



 
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