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China seeks better govt resource allocation

Updated: Jan 12,2017 6:56 AM     Xinhua

BEIJING — Chinese authorities seek to allocate public resources in a more efficient, transparent and fair way.

In a guideline released on Jan 12, the Communist Party of China (CPC) Central Committee and the State Council gave detailed plans with regard to natural, economic and non-profit state assets.

Management of natural resources should be based on property rights to compensate rights holders for use of public resources, according to the guideline.

The state capital structure will focus on national security and public welfare, strategically important industries, major infrastructure and businesses with core competence.

A more fluid mechanism should push for state asset securitization and allow inefficient assets to exit the market.

For non-profit state resources such as education and healthcare, the guideline specifies that a list of such public services would be used to ensure equal and fair access to them.

China will actively introduce a competitive mechanism to build a service supply system led by the government, supported by social forces and supervised by the public, the guideline pledged.