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China outlines major economic reforms for 2012

03-23-2012 14:00 BJT

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It's all about reform when it comes to the Chinese economy these days. The lowered growth target set out for this year, of 7.5 percent, and some recent soft economic data has had analysts and investors worried, but the government says it's looking for sustainable, quality growth versus the breakneck speed of the last three decades.

The National Development and Reform Commission, NDRC, says the nation will press ahead with the strategic restructuring of the state-owned economy; study plans for reforming the country’s railway system; deepen the reform of the power system and encourage the healthy development of civil investments.

Meanwhile, China will step up fiscal and financial reforms and deepen income distribution reforms. The country will also encourage civil investment into railway and expand financial investment opportunities. Also watch out for wider trials of a property tax, IPO reforms, and changes to the pricing of refined oil and official cars.

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Editor:Zhang Dan |Source: CNTV.CN

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