Focus Advancement in Household Registration System Reform Some provincial administrative regions including Shanghai, Beijing, Guangdong, Henan and Shandong are currently exerting great efforts to promote the residence permit system, showing some ice-breaking signs of the household registration system reform. Decision-making departments are planning to gradually promote the urbanization of rural population and to strip off the public welfare from the household register.
Wenzhou to Pilot China’s Financial Reform
The State Council announced on March 28th to set up a pilot financial reform zone in Wenzhou. With some supporting measures yet to be declared, the long-awaited decision comes as underground private financing activities in Wenzhou, a major source of funding for the small and medium-sized businesses, have stirred up financial disputes and crime and threatened financial and economic stability.
Private Placement Bond for SMEs
CSRC announced on April 8th that a systematic framework on the private placement bond for the small and middle sized enterprises (SMEs) is taking shape after four months of preparations. The issuing of the new bond will ease funding constraints for SMEs and become an important channel injecting funds to real economy.
Program on Cleaning Up Houses with Limited Property Rights
An initial program on how to clean up houses with limited property rights, which is jointly drafted by 14 ministries, has been submitted to the State Council. According to the program, departments concerned will investigate the newly found illegally-built houses. However, there is no consensus among departments concerned on how to deal with the houses that have been sold.