China issues incentives for implementation of key policies

China rolled out a circular to reinforce incentives to administrative regions with solid progress on policies and reforms issued by the State Council.

The move is aimed at encouraging related departments and regions to further take initiative in carrying out major policies and measures to build a well-off society.

According to inspections conducted by the State Council and individual departments, 25 provincial regions, 82 cities and 116 counties will be entitled to 24 incentive measures for their achievements in major policies in 2017, including supply-side reform and optimization of business environment.

As shown in the incentive list, China has made great progress in key reforms in 2017.

Across the nation, the business environment was improved with solid steps in reform of domestic trade flows and innovation in the service trade.

Meanwhile, capacity cuts in steel and coal were moving toward targets in Hebei, Jiangsu, Shandong, and several other provinces.

Beijing, Hebei, Jiangsu, Jiangxi, and Shenzhen in Guangdong province performed well in improving basic research conditions and optimizing the innovation environment.

In the financial sector, a healthy financial ecosystem was established in several provinces and cities. Fixed asset investment and public-private partnership (PPP) also saw good results.

While implementing Made in China 2025, cities in Liaoning, Jilin, Jiangsu, Zhejiang, and several other provinces stood out in industrial transformation and strategic emerging industries.

Also, poverty was alleviated with efficient relocation and renovation of shantytowns and favorable employment policies in Anhui, Jiangxi, Sichuan, and several other provinces and autonomous regions.

Meanwhile, public hospitals, elderly care, water projects, land usage and environment management were also evaluated.

According to the circular, Beijing's Haidian district, Hebei's Handan city, Shanxi’s Yanqu county, and other regions with efficient results in rolling out key policies will be exempt from the State Council's inspections in 2018.