9. We furthered reform in all respects, helping to boost the confidence and vitality of market entities.

Faster progress was achieved in improving the socialist market economy. New breakthroughs were made in furthering reform through comprehensive moves. Both the dynamism of development and internal drivers of growth were further enhanced.

1) We improved the systems and mechanisms for the market-based allocation of production factors.

We reformed land-use planning and management practices. We granted provincial-level governments more decision-making power over the development of land, launched a new round of trial reforms on rural land designated for housing, and adjusted the parameters of use for proceeds from the sale of land-use rights, making rural revitalization a key priority for support.

We worked quickly to improve the system for appraising skilled personnel, gradually opened avenues for awarding professional titles to personnel in private enterprises, and steadily developed integrated mechanisms for the mutual recognition of professional qualifications between regions. We furthered reforms related to the right to use, transfer, and profit from scientific and technological output, and piloted the practice of granting researchers employed in research institutions ownership or permanent use rights over the scientific and technological outputs they produce on the job.

We staged trials for developing and utilizing public data resources and promoted the sharing of government data in an orderly manner. We also developed an action plan for establishing a sound market system.

2) We promoted the reform of state-owned enterprises (SOEs).

We vigorously implemented the three-year action plan for SOE reform. We essentially completed the tasks of relieving SOEs of their obligations to operate social programs and of resolving other longstanding problems concerning SOEs, prudently yet steadily advanced mixed ownership reform, and ensured that the supervision of state capital became more systemic, targeted, and effective. We also made new strides toward developing market-oriented operating mechanisms.

As part of the reform of key sectors, we relieved power grid enterprises of some of their competitive operations such as equipment manufacturing. The China Oil and Gas Pipeline Network Corporation successfully took charge of China's oil and gas network assets, personnel, and operations, thus creating an interconnected national network of pipelines that will be opened up in a more equitable manner to non-public capital and market entities.

3) We continued to improve the development environment for private enterprises.

We introduced a range of policies and measures to ease market access, strengthen financial support, create an environment of fair competition, and protect the legitimate rights and interests of private businesses and their owners. We gradually lifted restrictions on private businesses engaging in the exploration and development of oil and gas resources, and supported the involvement of private businesses in the development of transportation infrastructure.

We worked speedily to set up a long-term mechanism for ensuring that commercial banks have the confidence, willingness, and ability to loan to private enterprises, and achieved significant results with regard to the settlement of overdue payments owed to private, small, and medium businesses. We made progress on abolishing policies and measures that disrupt China's unified national market and impinge on fair competition, and attained positive results in the campaign to resolve property rights disputes involving the government.

4) We made continuous improvements to the business environment.

We pushed ahead with the reform to streamline administration and delegate power, improve regulation, and upgrade services. We fully enforced the Regulations on Improving the Business Environment, and carried out business environment evaluations in some cities. The 2020 Report on China's Business Environment was published.

We carried out extensive reform of the construction project approval system, and largely completed work on a national unified system for project approval and management. We continued to improve the business environment with regard to public bidding and government procurement and introduced online trading for all public resources. The Negative List for Market Access (2020) was published, with the number of listed items being reduced to 123 from the 131 items on the previous version. Restrictions on market access thus continued to be loosened.

5) We accelerated the pace of reform in key areas such as public finance and taxation, the financial sector, and pricing.

We published and implemented the reform plan for dividing fiscal powers and expenditure responsibilities between the central and local governments in such areas as ecological conservation, public cultural services, natural resources, and emergency relief services. We implemented a registration system for the public issuance of all corporate and company bonds, increased the resilience of the capital market and ensured its continued stability, and made the financial sector more adaptable, competitive, and inclusive. We revised the Central Government Pricing Catalog, shortening it by 30%, and deepened price reforms in key areas such as electric power, oil and gas, public utilities, and agricultural products. Reform and opening up in the service sector was stepped up, and reform of the electric power, oil, and gas systems was expanded.