State to accelerate structural reform

Nation's investment-boosting move set to shore up 'weak spots', promote both short- and long-term growth

The State Council, China's Cabinet, vowed to deepen systematic reforms to encourage social investment and strengthen the "weak links" of the national economy, such as health, education, water conservancy projects and infrastructure. Analysts said the move will not only serve the short-term purpose of boosting growth, but contribute to middle- and long-term development.

At an executive meeting on Sept 5, the State Council decided that the country will implement systematic reforms to "shore up the weak spots" of the economy, a task that is part of the country's structural reform agenda. In December 2015, the Central Economic Work Conference listed five major tasks facing the country, including cutting overcapacity, destocking, deleveraging, reducing corporate costs and shoring up the weak spots.