Cities with fewer than 3 million permanent residents will be prevented from using the so-called points system to restrict agricultural workers and others from setting up homes in their municipalities, according to an announcement on the central government’s website on October 11. Currently, such cities can restrict immigration from the provinces by a points tally linked to home purchases, investments or tax payments. The document entitled Helping 100 Million Non-native Residents to Immigrate to Cities aims to raise the urbanization rate to 45% by 2020, according to the website.
Another 3.454 trillion yuan for railway spending
Government investment in railways increased to 2.646 trillion yuan in the first half of 2016 and another 3.454 trillion could be spent in the second half, Securities Daily reported. Railroad projects totaling 79.5 billion yuan in Xinjiang province and between Guiyang and Nanjing provinces were approved by the National Development and Reform Commission on October 11. The NDRC also approved over 10 trillion yuan in infrastructure projects in the first eight months of 2016, said Li Kun, an analyst at Ping An Securities. As well as government funds, urban railway lines in some cities like Changsha, Hohhot and Fuzhou are also seeking private investment.
State-owned enterprises down to 103
The number of state-owned enterprises has fallen to 103 from 196 in 2003, according to an October 11 statement from the Assets Supervision and Administration and Commission of the State Council. The council aims to reduce the number to 100 by the end of this year, according to a report by Securities Daily
By Lin Wanxia, Poo Yee Kai & Benny Kung