Premier Li Keqiang says he is determined to keep the reform process going, vowing to reduce more government power lists.
While safety concerns need to be addressed, the first task should be to increase the number of taxis by letting go some of the controls.
"Every country has its own demands. For China, a country with large amount of energy consumption and hankering for new technologies, we need to learn from the German 'Industrie 4.0' concept," said Zhou Hongyu, deputy of the NPC.
The government will no longer be involved in the management of science programs, instead leaving them to professional institutions in a move to further promote reform in science and technology.
Some national legislators say it is unfair that the government would not return the excess amount of the pension money if a retired worker dies.
The registration-based system for IPOs is likely to be implemented this year and the Shanghai Stock Exchange is getting ready to handle the work.
Investment will continue to play a crucial role in driving China's slowing economy to offset domestic and global downturn pressures, but policymakers won't enact bold stimulus measures.
China will further streamline administration and delegate more powers to lower-level governments and to society while improving regulation.
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