China will accelerate reforms in nine key areas next year as part of a roadmap set out for furthering economic reforms first flagged at last year’s Third Plenum.
According to state media reports, reform will be speeded up in capital market, market access for private banks, administrative approval, investment, pricing, monopolies, franchising, government purchased services, and outbound investment.
The announcement was made at the conclusion of the Central Economic Work Conference on Thursday. The meeting is meant to set the tone for economic policies in the coming year.
Making state-owned enterprises more efficient and competitive will also be a priority for the government according to a statement released at the conclusion of the conference.
The government also reaffirmed its commitment to pursuing a ‘new normal’ in economic development with an emphasis on more sustainable and less fast-paced growth.
Investment will remain a key driver of growth alongside consumption and exports, Xinhua said.
The statement followed reports that China's central bank has stepped up efforts to pump more cash into its banking system with a $US65-billion fund injection.
According to Dow Jones newswires, the People's Bank of China (PBoC) injected around 400 billion yuan into the interbank market where banks borrow from each other on Wednesday
