China’s President Xi Jinping called for solid efforts to push forward reform plans to meet the government’s previously-charted timetable, official media reported.
China should focus more on reforms and mechanisms to put them in place, state-owned Xinhua News Agency said, citing a statement released after a meeting of the Central Leading Group for Deepening Overall Reform led by Xi.
Chinese leaders in 2013 charted an ambitious plan to give market forces a greater role in the economy. Progress has been made in some areas, such as scrapping the one-child policy and interest-rate liberalization, and has been slower in others such as reducing the role of bloated state-owned companies.
The nation will curb investment in polluting industries, Xinhua reported. Policy makers will encourage private capital in “green” industries and the use of “green” credit for their development, Xinhua reported, adding that China will improve supervision rules and standards for environmentally friendly financial services and products. Guidelines on setting up a green finance system were approved at the meeting, the report said.
— With assistance by Miao Han