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Circular released on the third inspection

Updated: Aug 30,2016 7:51 PM

The State Council on Aug 30 released a circular concerning the third comprehensive inspection of its departments and local governments in detail.

The inspection is aimed at urging authorities to implement major policies and projects, maintaining economic growth and achieving the goal of social-economic development this year.

It contains four aspects — maintaining steady economic development, promoting supply-side reform, enhancing innovation-driven development and protecting and improving people’s livelihood.

According to the circular, departments of the State Council and local governments should speed up the construction of large investment projects, including the railway investment of more than 800 billion yuan ($119.8 billion), highway investment of 1.65 trillion yuan, more than 20 big water conservancy projects, underground city tunnels of more than 2,000 kilometers, more than 6 million units in shantytown renovation projects and newly-built and renovated rural highways of 200,000 kilometers.

To maintain economic growth, local governments should also make efforts in boosting social investment, especially private investment; making good use of their idle funds allocated by the central finance; expanding consumption demand; promoting the development of foreign trade; and accelerating urbanization.

Seven items were laid out to promote supply-side reform. They include further deepening administrative reform and enhancing government services; eliminating the overcapacity in iron and steel industries, with this year’s goals of 45 million tons of crude steel and 250 million tons of coals to be cut; reducing inventory in the property sector; lowering corporate leverage ratio while increasing direct financing; cutting costs for enterprises through several measures such as replacing business taxes with value-added tax; improving weak links in infrastructure construction; and promoting reforms of State-owned enterprises.

To stimulate innovation-driven development, inspections will be carried out to promote building the first batch of the 28 entrepreneurship and innovation demonstration bases, implementation of “Made in China 2025” initiative and “Made in China Plus internet” strategy, and construction of coordinated innovation mechanism with an effort to promote applicable technology.

Inspections with regard to people’s livelihood involve government efforts in expanding employment and encouraging entrepreneurship mainly for college graduates, migrant workers, and the laid-off, aiming to meet the target of creating at least 1,000 jobs this year. Meanwhile, policy practices in improving indemnificatory housing management, farmers’ income, education, healthcare, social security system, and environment protection will be under inspection.

Thirty-one provincial regions will receive the inspection. Departments and provincial-level governments should send self-evaluation reports to the State Council by Sep 15. Inspection group will conduct on-site inspections from Sep 18 to Sep 30, and report to the State Council before Oct 10.