A bigger role for the market

The reform package vows to cut the review and approval of investment projects to minimize the inconveniences and high costs involved when enterprises and individuals are trying to obtain the services they require and boost their independence to start a business or make an investment.

"In the past, what we produced and any new project must be approved by the central government, which greatly restrained our development," said Li Baomin, Party secretary of Jiangxi Copper Corp, China's largest copper producer.

"The government and enterprises must be separated. The government must leave the market to the market, and what it needs to do is to supervise," said Li, who is also an NPC deputy.

For those investment projects still subject to state approval, the plan introduces a deadline for completing the application process, as well as simplified procedures for each case, while emphasizing enhanced management over land use, energy consumption and emissions of pollutants to prevent duplication in investment and disorderly competition.

The plan also pledges to reduce review and approval items over business and operation activities, minimize the issuance of certificates and licenses according to the Administrative License Law, reduce administrative fees and charges, and gradually loosen conditions regarding the registration of industrial and commercial entities.