China cuts more red-tape

BEIJING -- The State Council, China's cabinet, has decided to abolish another 13 items of administrative approval to reduce intervention in the economy.

The items released on Tuesday involve finance and business qualification reviews.

The decision will help vitalize the economy and strengthen growth, the State Council said.

Facing a complicated global landscape and pressure from an economic slowdown at home, the central government has made transforming government functions a top priority.
State Council agencies have canceled or delegated administrative approval powers on 599 items since March 2013, meeting the target to cut the number of items requiring approval by one-third within the term of this government ahead of schedule.