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Factbox - China's reform tally since November policy meeting
May 4, 2014 / 9:25 PM / 4 years ago

Factbox - China's reform tally since November policy meeting

(Reuters) - China’s leadership unveiled some of the most comprehensive economic and social reforms in nearly 30 years in November 2013.

Implementation since then has been slow but steady. China has eschewed riskier, game-changing reform but the incremental steps promise to reach enough critical mass to sustain momentum and help the world’s second-largest economy shift down fairly smoothly after decades of red-hot investment-fuelled growth.

Following are some of the significant steps taken since the Communist Party Central Committee’s Nov 9-12 policy conclave:


April 23 - Premier Li Keqiang says China will allow private investment in 80 projects in energy, information and infrastructure.

April 22 - Changes to the environmental law seeking stiffer penalties for polluters submitted to parliament.

April 11 - Chinese firms can invest up to $1 billion overseas without seeking approval, China’s top planner says.

April 10 - China allows cross-border stock investment between Shanghai and Hong Kong.

April 9 - The government relaxes price controls over non-public hospital services.

April 2 - The government says will fast-track some spending and cut taxes for small firms, as a way of supporting the weakening economy.


March 31 - Britain and China sign an agreement to set up a clearing service for offshore yuan trading in London. That follows a similar agreement with Germany.

March 24 - China simplifies review procedures for mergers and acquisitions.

March 21 - The securities regulator issues rules for a pilot programme allowing listed companies to issue preferred shares.

March 20 - The foreign exchange regulator relaxes curbs on foreign investment in China’s stock market.

March 20 - PetroChina, China’s biggest oil and gas producer, is welcoming private investment into oil and gas pipelines in China, according to chairman Zhou Jiping.

March 16 - China sets 2020 targets for urban population growth and registered urban residents.

March 15 - The central bank doubles the yuan currency’s daily trading band against the dollar.

March 11 - Central bank governor Zhou Xiaochuan says China’s deposit rates should be liberalised in one to two years.

March 11 - Development of 3-5 privately-owned banks to be tested in Tianjin, Shanghai, Zhejiang and Guangdong, bank regulator says.

March 11 - The cabinet outlines its healthcare reform plan.

March 7 - Loss-making solar equipment maker misses interest payment in China’s first domestic bond default.

March 5 - Premier Li Keqiang promises to wage a “war” on pollution and reduce the pace of investment to a decade-low.

March 1 -Simplified corporate capital registration comes into force. Government data later show 309,500 new firms were registered in March, up 46 percent from a year earlier.


Feb 26 - Beijing details pension reform that seeks to decrease urban-rural economic divisions before 2020.

Feb 21 - The central bank gives operational details for cross-border yuan deals made through Shanghai free trade zone.

Feb 20 - Sinopec Corp, Asia’s largest oil refiner, says it will sell up to 30 percent of its retail business to private investors in a multi-billion dollar revamp.


Jan 29 - The cabinet sets up a cross-ministry group to boost development of three service zones in Guangdong province.

Jan 22 - Six teams to supervise economic reforms are set up, with President Xi Jinping and Premier Li Keqiang in charge.

Jan 17 - China’s wealthy eastern province of Zhejiang became the first to implement changes to the one-child policy.

Jan 6 - The cabinet publishes guidelines strengthening regulation of off-balance lending.


Dec 11 - Beijing strips 82 powers away from central government ministries. Over 200 administrative approvals are set to be abolished or delegated to local authorities in 2014.

Dec 10 - New standards on performance ratings of officials break the obsession with growth and include such criteria as work safety, innovation, environmental and resource costs.

Dec 8 - The central bank sets guidelines for issuing of interbank certificates of deposit, a step towards allowing markets to determine interest rates.

Dec 4 - The government expands its value-added tax trial to rail transport and the postal service.

Dec 4 - The central bank announces details of financial reform test runs in the Shanghai free trade zone.


Nov 30 - The stock market regulator announces IPO reforms.

Nov 12 - The Aihui province, which spearheaded land reform in 1978 announces pilot land reforms, including accelerating the development of large-scale farming, completing land use rights registration before end-2015 and simplifying land transactions.

Reporting by Kevin Yao; Editing by Tomasz Janowski and Raju Gopalakrishnan

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