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Work Reports

Full text: Report on China's economic, social development plan

(Xinhua)
Updated: 2014-03-15 15:25

3. Reform and opening up were intensified.

We comprehensively advanced economic structural reform and created sound systems and mechanisms for maintaining stable growth and carrying out structural adjustments.

First, we obtained significant results in reforming administrative systems. We smoothly advanced institutional reform of the State Council, thoroughly reformed the system of government review and approval, eliminated or delegated 416 items that required review and approval, and implemented strict measures to control the issuance of new administrative permits for items. We unveiled and implemented the guidelines on government purchase of social services. We accelerated reform of the registration system for registered capital. Initial steps were taken to establish a registration system for immovable property.

Second, we deepened reform of the fiscal, tax, and financial systems. A pilot project was carried out across the country to replace business tax with VAT in the transportation industry and some modern service industries. We reduced the tax burden of businesses by more than 140 billion yuan for the year. We raised VAT and business tax thresholds for small and micro businesses, benefiting more than six million businesses. We lifted controls on interest rates on all loans. The trial for implementing the National Equities and Exchange Quotations was extended to all parts of the country. Trials of securitizing credit assets were expanded. We introduced guidelines on reforming IPO and better protecting the rights and interests of small and medium-sized investors. We created new corporate bonds as well as new review and approval methods.

Third, we made positive progress in reforming the investment system. We revised the list of investment projects requiring government examination and approval and reduced the investment projects subject to central government examination and approval by 60%. We improved management of subsidies and discounts for investments from the central government budget, and delegated the authority to grant subsidies and discounts for 31 types of such investment projects that cover a wide range of areas, are large in number, or require less funding individually. We deepened reform of the investment and financing system for the railway industry. We arranged a third-party assessment of the implementation of the Guidelines on Encouraging and Guiding the Sound Development of Private Investment, and implemented and improved policies and measures to encourage the sound development of private investment.

Fourth, we constantly improved the pricing mechanism for resource products. We introduced a new pricing mechanism for refined oil products, promulgated pricing policies to support the upgrading of the quality of processed oil, and adjusted city gate prices for consumption of natural gas by nonresidents. We raised the surcharge on electricity generated from renewable energy sources and the prices for electricity generated by environmentally friendly facilities; improved the pricing mechanisms for on-grid electricity generated from nuclear, hydro and photovoltaic power; and successfully abolished the dual-pricing system for coal used to generate electricity.

Fifth, we actively advanced rural reforms. We basically completed the work of determining, registering and certifying rural collective land ownership nationwide, and extended the trials of determining and registering contracted rural land-use rights to 105 counties, county-level cities and districts. We carried out trial reforms of state-owned forestry farms in seven provinces.

Sixth, we made steady progress in social reforms. We issued guidelines for implementation on deepening reform of the income distribution system. We launched a pilot program of insurance against major diseases for rural and non-working urban residents in 28 provinces, autonomous regions and municipalities directly under the central government, and carried out trials on comprehensive reform in over 1,000 county-level public hospitals. The first two groups of publishers of newspapers and periodicals that do not cover current political affairs basically completed their trial reform to become businesses. The food and drug oversight and supervision systems improved.

In addition, we continued to deepen reform of state-owned enterprises (SOEs) and key industries. We launched comprehensive coordinated trial reforms to develop modern agriculture in the Sanjiang and Songnen plains of Heilongjiang Province, and arranged third-party assessments and self-assessments of 11 national experimental zones for comprehensive coordinated reforms.

We opened further to the outside world. China's total imports and exports increased by 7.6%, 1.4 percentage points higher than the previous year. Non-financial foreign direct investment actually utilized in 2013 totaled US$117.6 billion, up 5.3%. Foreign investment in service industries utilized exceeded half of their total for the first time. Foreign investment moved faster to the central and western regions. China's non-financial outward direct investment reached $90.2 billion, up 16.8%. The China (Shanghai) Pilot Free Trade Zone was opened. We helped reach an early harvest agreement in the WTO Doha Round of negotiations, and concluded free trade agreements with Switzerland and Iceland. We actively implemented the strategic concepts of establishing a Silk Road economic belt and a 21st century maritime Silk Road, and promoted balanced development of the Bangladesh-China-India-Myanmar Economic Corridor and the China-Pakistan Economic Corridor.

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