CHINA-ECONOMY

 As part of the effort to streamline the government and simplify procedures for business, Xinhua reported that a State Council's executive meeting chaired by Premier Li Keqiang on June 15, 2016, announced it would invalidate hundreds of outdated documents to tackle conflicts between policy and regulations or between previous and present policy documents. It said that over five hundred documents, which were issued between 1978 and 2013 and are in relation to the country's sustainable growth, structural reform and people's livelihood, have been found to overlap or conflict with many new regulations covering similar areas, which better suit the country's new evolving reality. Major documents to be annulled include those that are obviously not adapted to a market economy, or are unnecessarily restrictive in enterprise operations, pricing and fund management, undermining enterprises' potential. Also, certain rules regarding approval for market access, investment, vocational qualifications and residency need to be further delegated or annulled. However, documents related to workplace safety and food security are not involved in this round of annulment. Xinhua added that in December 2015, a total of 489 outdated documents were declared invalid after the first stage of document overhaul. An office was set up under the State Council to work on the task, consulting related departments and experts, as well as sometimes netizens.

 






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