ZCZC
BCN-06
CHINA-ECONOMY
Weekly policy snapshot of Chinese economy
BEIJING, Sept. 22, 2019 (BSS/Xinhua) – The following are the key moves
taken by policymakers in the past week to enhance China’s economic strength
and sustainability:
— Greater support for family farms
China will intensify efforts to tackle problems restricting the
development of family farms, which are engaged in large-scale, standardized
and intensive agricultural production and management.
Governments at all levels are expected to support the construction of
warehouses, ice storehouses and other infrastructures to boost the
development of family farms.
Preferential fiscal and tax policies will be formulated to support family
farms and more training will be introduced.
— Easier market access with shorter negative list
China has cut the number of sectors and businesses that are off-limits for
domestic and foreign investors in a revised negative list for market access.
The shortened list contains fewer administrative measures on investment
and is still subject to approval. Industries, fields and business not on the
list are open for investment to all market players.
The negative list approach has been proven successful in making market
access management more open, inclusive and predictable, as well as in
boosting market vitality.
— Land and space planning system streamlined
China will markedly streamline its administrative approval system for land
and space planning amid efforts to improve the business environment and
governance efficiency.
With red tape-cutting reforms on planning permission and land use
approval, application materials will be significantly trimmed and approval
time will be greatly reduced.
The country will also delegate more power from the State Council to
provincial-level governments, allowing them to have a greater say in
authorizing land and space planning.
— Reserve pork released
Chinese authorities on Thursday released 10,000 tonnes of pork from its
central reserves to increase pork supply in the market and ensure meat supply
for the upcoming National Day holiday.
A total of 2,400 tonnes of reserve beef and 1,900 tonnes of reserve mutton
have been released into the market at the beginning of September.
China is capable of guaranteeing its meat supply with a sharp increase in
meat imports and a relatively high level of frozen meat inventory, according
to the Ministry of Commerce.
BSS/XINHUA/HR/1445