Weekly policy snapshot of Chinese economy

Xinhua News Agency | Nov 10, 2019 at 8:26 AM

BEIJING, Nov. 10 (Xinhua) -- The following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability:

-- Revision of guidance policy for industrial structure adjustment

China's top economic planner released a revised guidance catalogue for industrial structure adjustment in the latest effort to push high-quality development.

Reflecting changes in the economic landscape, the new catalogue added four sectors under government support, including artificial intelligence, elderly care and nursery services.

It also adjusted industries that the government wants to restrain or eliminate.

-- Efforts to ensure supply of farm produce, keep prices stable

The Chinese government will take stronger measures to ensure the supply of key farm produce and keep prices stable.

The government urged efforts to take multi-pronged steps to restore hog production at a faster pace, increase the production of poultry, beef and mutton, and tap into the food reserves to ensure the supply of key farm produce and curb the price spikes of certain products.

The government also called for efforts to protect the farmland, and improve the mix and quality of grain production to make a success of the farming this fall and winter.

-- Guideline on improving business environment for foreign investors

The State Council has issued a guideline on better using foreign investment with a focus on safeguarding the national treatment of foreign-funded enterprises.

To deepen opening-up, China will continue to reduce the negative lists for foreign investment access in both pilot free trade zones and the rest of the country, and comprehensively eliminate restrictions that are not included in the negative lists.

China will accelerate the opening-up of the financial sector and optimize the foreign investment policies for automobile industry.

-- Lower barriers for refunding on ChiNext

China Securities Regulatory Commission has started to solicit public opinion on revising related regulations on the refunding activities of firms listed on the ChiNext, China's NASDAQ-style board of growth enterprises.

The revision will further streamline the issuance conditions and amendments will be made to extend the validity period of approval to make it easier for listed companies to choose their issuance date.