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At China's NPC, Proposed Changes Include Bank Deposit Insurance
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In a program of gradual change the new leadership under premier Li Keqiang steers China's economy in the new direction set by the DRC Report: China 2030 and the Third Plenum in Nov. 2013. New priorities listed under major Tasks in the annual work report by Li Keqiang place setting up deposit insurance at the top of the list. Policy changes include allowing cities to issue bonds directly to increase transparency in construction spending and control burgeoning debt.
Annual work report outlining reform policy by premier Li Keqiang at China's National People's Congress (NPC), March 2014
03/06/2014
Reforms include letting more cities issue bonds directly to increase transparency for construction spending and control debt. Deposit insurance is listed under Major Tasks in the Li Keqiang Report. Spending priorities established at the Congress show increased spending on healthcare, military, and social security. Growth targets were made flexible of around 7%, with more focus on creating jobs, according to finance minister Ji Wei. The debt to inflation adjusted GDP will be about 2.1%, according to Finance Ministry.
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