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Powers to be given up as market plays role
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The National Development and Reform Commission plans to further give up some of its power to approve projects and will also narrow its scope of pricing, a top official said yesterday, as China’s top planning agency bids to transform its functions.
The remarks by Lian Weiliang, an NDRC vice director, heed the call of a communique released after the Party’s plenum earlier this month that says market forces should play a decisive role in China’s economy.
Lian said the NDRC has canceled or returned 44 approved items back to local governments this year and more is to come.
He pointed out that the government should not approve economic activities where market forces would play a better role.
Lian also said the government should not intervene in prices in areas where the market can play a role. For key utility prices where the government still sets rates, it will continue to promote reforms transparently and gradually taking into account the ability of people to afford and the scarcity of resources.
Natural gas price is a widely watched area for reform as regulated prices have caused huge losses for importers.
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