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A People’s Bank of China (PBoC) official accused government departments of avoiding issues that run counter to their own interests when drafting policy.
At the recently held Chinese Economists 50 Forum, Xu Zhong, director general of the PBoC research bureau, said many policies are intentionally left to idle in gear as departments seek a “consensus.” The practice has become a deep-rooted reason for the difficulty of advancing reform, Xu said.
In an article for the Beijing News, Nie Huihua, an economics professor at the National Academy of Development and Strategy, Renmin University of China, proposed three measures to deal with the issue, starting with an insistence on market-oriented reforms.
Nie said it is necessary to allocate more resources and even hand over persistent administrative issues to the market while also calling for further streamlining of departments and decentralization of power.
Transparent management will prevent departments from colluding with each other to make profits. Each department should have clear responsibilities and boundaries set according to the law, Nie wrote.
Finally, top-down implementation and timetables released to the public will provide the push necessary to carry out reforms, Nie wrote.
