WNAM REPORT: China’s National Development and Reform Commission (NDRC) has introduced multiple changes in economic operations since September, after China’s economy grew by 4.8 percent in the first three quarters of the year, helping create a solid foundation for completing the full-year goals and tasks.
According to the NDRC, the consumer goods trade-in policy will gradually release the pulling effect on consumption, government investment will play a better role and exports will continue to be strong resilient.
A number of incremental policies and measures continue to be implemented, including expanding the special bonds used as capital, improving the standard of student financial aid subsidies, and expanding the coverage of the policy to increase the undergraduate and postgraduate student loans to promote the lowering of the interest rate of the loan.
In the next step, the NDRC plans to break down market access barriers and promote more private capital to participate in the construction of energy, transportation and other major infrastructure projects, support capable private enterprises to take the lead in undertaking major national technological research tasks and further open up major national scientific research infrastructure to private enterprises.
The NDRC will also supervise departments and regions that are making slow progress. In response to problems such as the complexity of the subsidy process in some areas, it will coordinate with the Ministry of Commerce and other departments to guide localities in simplifying the fund disbursement process and improving the efficiency of auditing, and following public feedback on the poor recycling channels for used home appliances and other products, it will organize localities to accelerate the improvement of the recycling system that covers counties, townships and villages.
