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Premier Li: Reduce government allocation of market resources

Updated: Apr 28,2018 4:18 PM

Governments should further transform their functions and let the market play a decisive role in resource allocation, Premier Li Keqiang said at the first work conference on clean governance held by the State Council on April 27.

More efforts should be made to streamline administration, delegate powers to lower levels, and improve regulation and government services.

Governments are required to reduce allocation of market resources or intervention into market activities, in an effort to create a favorable business environment, inject vitality into the market, and bring more convenience to the people.

The Premier asked to use the institutional reform of government departments as an opportunity to speed up forming lists of rights and duties for State Council departments.

The boundaries of government authority should be clarified, and the lists of government rights and duties, the negative list for market access, and lists of business fees should be fully implemented, said the Premier.

He urged government departments to duly perform their duties within those lists. They are forbidden to set new rights or expand existing ones.

Government affairs should be more transparent, the Premier said, adding that modern technologies, such as internet and big data, should be applied to ensure public supervision of government actions and promote the fight against corruption.

According to Premier Li, this year, a performance management system will be fully implemented concerning the use of financial funds, and its performance will affect adjustments in future budget and policymaking.

“Funds which are not fully used will be cut down, while idle funds will be taken back,” the Premier said. “Financial funds should be diverted into areas with desperate needs, so that a proactive financial policy can play a bigger role.”