NDRC to focus on balanced growth

China's top economic planner will see the focus of its work shifted to ensuring balanced economic growth and the number of its leading officials more than halfed, according to a plan approved by the central government yesterday.

The National Development and Reform Commission will have one minister and four vice-ministers whose remit will be ensuring stable growth.

The commission, which currently has one minister and 10 vice-ministers, will also lose some of its responsibilities for energy, industry management and price regulation.

Its powers over energy production, international cooperation and scientific research have been handed to the newly established National Energy Administration, while the Ministry of Industry and Information Technology has taken over its decision-making power in terms of major industrial projects.

"The commission's powers in project approval will be gradually reduced," the central government said in a circular.

"Enterprises will play the leading role in business investment while local governments should have a say on whether projects ought be approved in accordance with laws and investment policies."

While the prices of most commodities are now determined by the market, the commission remains responsible for supervising the pricing of water, electricity, oil and gas. The central government said pricing rights should be further deregulated and some responsibilities handed to local governments.

Meanwhile, a department has been created in the commission to deal with climate change and handle international negotiations and cooperation on this issue.

The commission has also established a department to promote overseas investment.

Source: China Daily