NDRC: 'Negative list' to cut central govt role in investment

The National Development and Reform Commission, the country's economic planner, vowed on Tuesday to stick strictly with the State Council's directory of investment projects that require government approval.

The directory, known as the negative list, came into effect on Dec 2 and replaces the government's approval procedures for 19 investment areas.

It devolves the responsibility to approve 30 categories of investment items from central to local authorities, and it transfers approval for 10 kinds of investment projects to industrial administrations.