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China calls for greater reforms on economy

THE State Council, China's Cabinet, yesterday called for greater efforts on economic reforms to boost domestic demand, improve economic structure and maintain relatively fast and sound economic development.

An executive meeting of the Cabinet, presided over by Premier Wen Jiabao, reviewed and passed a guidance document on deepening economic reforms this year.

The document urged local governments to simplify administrative approval procedures to stimulate investment vitality and open more investment channels for the private sector.

The Cabinet called for deeper reforms of state-owned enterprises and promoting the development of the non-public economy and the growth of small and medium-size enterprises.

Rural reforms, greater energy efficiency and pollution cuts, environmental protection, raising urban and rural residents' incomes and consumption capacity, and deepening reforms in the scientific and technology sector should boost economic development, according to the document.

The Cabinet also called for more efficient reforms in medical, education, social security and housing sectors to build a better social safety net and raise people's willingness to spend more.

China should facilitate financial reforms to build a well-structured, highly efficient financial system.


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