China's National Development and Reform Commission has released its guidelines on the deepening of economic reform, as part of a further step in promoting stable growth and economic transformation.

A total of 22 major tasks in seven fields have been set as priorities for this year.

The guidelines cover reforms in the administrative system, as well as fiscal and financial reforms, urbanization and people's livelihood.

The guidelines stress the importance of further streamlining administration and innovating the provision of governmental public services.

The document also pledges tax reform, including resource-tax reform, and expansion of the value-added tax pilot program to replace business tax and lower the tax burden on companies.

In addition, the guidelines call for reforms in the financial sector, pushing forward market-oriented interest rates and the convertibility of the country's capital account.

The guidelines also urge the establishment of a deposit insurance system to guard against risks that banks and depositors are exposed to during a financial crisis.

With regard to rail investment and financing projects, the guidelines call for a proper pricing mechanism for rail operations to create conditions for the introduction of private capital.

The reform of power and energy prices is another key task outlined in the document. It calls for a ladder-price mechanism for electricity, water and natural gas.

The plan also covers the reform of livelihood security, including medical insurance, social security, food and drug safety, and environmental protection. The guidelines say that this year the country will gradually introduce a unified basic medical insurance system for urban and rural residents.

To boost urbanization, new regulations on residence permits will be worked out and the household registration system will be reformed according to classification.

A detailed development plan for the country's urbanization strategy will be formulated soon.

(CNTV.cn May 25, 2013)