China’s State Council tightens rules on Government investment
BEIJING - A new regulation, to go into effect on July 1, defines the scope of Chinese Government investment to ensure that investments focus on key areas -- and go where they are intended.
China's State newsagency, Xinhua, said the regulation states that irrational investments and vanity projects must also be prevented.
Concerning relations between Government and the market, Xinhua reported, the Government must "eliminate inefficiency (and) waste while avoiding scrambling for profit with the people. a statement explained". www.webershandwick.cn (ATI).