Macro-Economy
Li stresses key market role in streamlining administration
Last Updated: 2014-03-13 11:46 | chinadaily.com.cn
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Premier Li Keqiang vowed to let the market play a decisive role amid the government's efforts to streamline administrative procedures.

The number of newly registered businesses increased by 27.6 percent in 2013. Of these, private business registrations increased by 30 percent, the highest in more than a decade, Li said on Thursday during a media conference.

Streamlining administrative procedures became a government priority last year and the proper delegation of responsibility was a key part of the reform agenda. The central government abolished, or delegated to local governments, 416 approval procedures in 2013.

"Fewer enterprises found it a necessary to turn to the government and fewer local governments found it a necessary to turn to the government," Li said.

The premier stressed that the delegation of power does not mean the government will stay out of everything, and the government will continue to punish illegal activities, including pollution, unfair competition and infringement of intellectual property rights.

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