Highlights of China´s institutional restructuring plan

MACRO-REGULATION

The National Development and Reform Commission (NDRC) will focus on macro-regulation and fade out from involvement in micromanagement of the economy and reduce its examination and approval of specific projects.

The Ministry of Finance shall reform and improve its management over budget and taxation. The People's Bank of China shall strengthen the system of monetary policies, and improve the mechanism of exchange rate formation.

The NDRC, the Ministry of Finance and the People's Bank of China shall establish and improve mechanisms for coordination, and form an improved macroregulation system.

NATIONAL ENERGY COMMISSION

To strengthen the government management on the energy sector, a high-level national energy commission is to be established, with a national bureau of energy set up as its working office under the NDRC.

The new bureau will integrate the NDRC's functions on energy management, the functions of the National Energy Leading Group and the nuclear power management of the Commission of Science, Technology and Industry for National Defense.

The National Energy Leading Group and its working bodies is to be dissolved.