改革是今年政府工作的首要任务。要以经济体制改革为重点，区别情况，分类推进，抓好牵一发而动全身的举措，力求取得实质性进展，更多释放改革红利。

Reform is the top priority for the government's work this year. We will focus on economic structural reform, advance it on different fronts in a targeted way in light of different conditions, take key measures that will have an overall impact, strive to make substantive progress and reap more benefits reform.

深入推进行政体制改革。进一步简政放权，这是政府的自我革命。今年要再取消和下放行政审批事项200项以上。深化投资审批制度改革，取消或简化前置性审批，充分落实企业投资自主权，推进投资创业便利化。确需设置的行政审批事项，要建立权力清单制度，一律向社会公开。清单之外的，一律不得实施审批。全面清理非行政审批事项。基本完成省市县政府机构改革，继续推进事业单位改革。在全国实施工商登记制度改革，落实认缴登记制，由先证后照改为先照后证，由企业年检制度改为年报公示制度，让市场主体不断迸发新的活力。

We will deepen reform of the administrative system. We will further streamline administration and delegate more power to lower-level governments. This is a revolution the government imposes on itself. This year, we will cancel or delegate to lower-level governments an additional 200 plus items requiring State Council review and approval. We will deepen reform of the investment approval system, abolish or simplify preliminary review and approval procedures, give businesses full power over their investment decisions, and make it easy to make investments and start businesses. We will introduce a system to list all items over which government review and approval are required and release the list to the public. No items not on the list will be subject to government review and approval. We will also comprehensively sort out items requiring nongovernmental review and approval. We will basically complete the reform of government bodies at the provincial, municipal and county levels, and continue to reform public institutions. We will reform the business registration system nationwide and carry out registration of subscribed capital. Issuing an operating permit before a license, which was the practice in the past, will be replaced with the practice of license first, operating permit second. Annual inspections of businesses will be replaced by annual reporting to incentivize market actors.

加强事中事后监管。坚持放管并重，建立纵横联动协同管理机制，实现责任和权力同步下放、放活和监管同步到位。推广一站式审批、一个窗口办事，探索实施统一市场监管。加快社会信用体系建设，推进政府信息共享，推动建立自然人、法人统一代码，对违背市场竞争原则和侵害消费者权益的企业建立黑名单制度，让失信者寸步难行，让守信者一路畅通。

Stronger oversight will be exercised over delegated matters when they are being handled and after they have been handled. We will attach equal importance to both delegating power and strengthening oversight, establish a mechanism of coordinating management between government bodies at both the same and different levels, and ensure that both responsibility and power are delegated together and that relaxing control and strengthening oversight go hand in hand. We will expand the one-stop review and approval model and one-window services, and explore ways to conduct unified market oversight. We will move faster to put in place a social credibility system, share more government information between government departments and with the public, introduce unified codes for natural and legal persons, implement a blacklisting system for enterprises that violate market competition principles and infringe on the rights and interests of consumers, and make those who lose credibility pay the price and smooth the way for those who have credibility.

抓好财税体制改革这个重头戏。实施全面规范、公开透明的预算制度。着力把所有政府性收入纳入预算，实行全口径预算管理。各级政府预算和决算都要向社会公开，部门预算要逐步公开到基本支出和项目支出，所有财政拨款的“三公”经费都要公开，打造阳光财政，让群众看明白、能监督。提高一般性转移支付比例，专项转移支付项目要减少三分之一，今后还要进一步减少。推进税收制度改革，把“营改增”试点扩大到铁路运输、邮政服务、电信等行业，清费立税，推动消费税、资源税改革，做好房地产税、环境保护税立法相关工作。进一步扩展小微企业税收优惠范围，减轻企业负担。抓紧研究调整中央与地方事权和支出责任，逐步理顺中央与地方收入划分，保持现有财力格局总体稳定。建立规范的地方政府举债融资机制，把地方政府性债务纳入预算管理，推行政府综合财务报告制度，防范和化解债务风险。

We will give high priority to reforming the fiscal and tax systems. We will institute a comprehensive, well-regulated, open and transparent budget system. We will work hard to incorporate all government revenue into the budget, and bring all revenue and expenditures under budgetary management. Governments at all levels should release their budgets and final accounts to the public, and budgets released by government bodies should progressively include details down to basic regular and project expenditures. In particular, all public spending on official overseas visits, official vehicles, and official hospitality should be made public. We will ensure transparency of public finance and make it easy for people to understand and oversee it. We will increase the proportion of general transfer payments, and cut the number of special transfer payments by one third this year and continue to cut them in coming years. We will advance the reform of the tax system by taking the following steps: Extend trials for replacing business tax with VAT to the railway transport, postal and telecommunications services industries, abolish fees and replace them with taxes, reform the excise tax and resource tax, and move ahead with legislation on a property tax and environmental protection tax. We will grant additional tax breaks to micro businesses with low profits and reduce the burden on businesses. We will work faster on ways to adjust the power and spending responsibilities between central and local governments, and progressively adjust distribution of revenue between them while keeping the current division of financial resources between them basically stable. We will establish a standard financing mechanism for local governments to issue bonds and place local government debt under budgetary management. We will implement a comprehensive government financial reporting system and guard against and defuse debt risks.

深化金融体制改革。继续推进利率市场化，扩大金融机构利率自主定价权。保持人民币汇率在合理均衡水平上的基本稳定，扩大汇率双向浮动区间，推进人民币资本项目可兑换。稳步推进由民间资本发起设立中小型银行等金融机构，引导民间资本参股、投资金融机构及融资中介服务机构。建立存款保险制度，健全金融机构风险处置机制。实施政策性金融机构改革。加快发展多层次资本市场，推进股票发行注册制改革，规范发展债券市场。积极发展农业保险，探索建立巨灾保险制度。促进互联网金融健康发展，完善金融监管协调机制，密切监测跨境资本流动，守住不发生系统性和区域性金融风险的底线。让金融成为一池活水，更好地浇灌小微企业、“三农”等实体经济之树。增强各类所有制经济活力，坚持和完善基本经济制度。优化国有经济布局和结构，加快发展混合所有制经济，建立健全现代企业制度和公司法人治理结构。完善国有资产管理体制，准确界定不同国有企业功能，推进国有资本投资运营公司试点。完善国有资本主义经济预算，提高中央企业国有资本收益上缴公共财政比例。制定非国有资本参与中央企业投资项目的办法没，在金融、石油、电力、铁路、电信、资源开发、公用事业等领域，向非国有资本推出一批投资项目。制定非公有制企业进入特许经营领域具体办法。实施铁路投融体制改革，在更多领域放开竞争性业务，为民间资本提供大显身手的舞台。完善产权保护制度，公有制经济财产权不可侵犯，非公有制经济灿产权同样不可侵犯。

We will deepen reform of the financial sector. We will continue to liberalize interest rates by granting financial institutions more power to set their interest rates. We will keep the renminbi exchange rate basically stable at an appropriate, balanced level, expand its floating range, and move toward renminbi convertibility under capital accounts. We will steadily promote the establishment of small and medium-sized banks and other financial institutions by private capital, and guide private capital to invest in or hold shares in financial institutions and intermediary financing services. We will establish a deposit insurance system and improve the risk disposal mechanism of financial institutions. Reform in policy-based financial institutions will be carried out. We will speed up development of a multilevel capital market, advance the reform to introduce a system for stock issuance registration, and develop a well-regulated bond market. We will actively develop agricultural insurance and explore how to establish a catastrophe insurance system. We will promote the healthy development of Internet banking, improve the mechanism for coordinating financial oversight, keep a close watch on the cross-border flow of capital, and ensure that no systemic or regional financial risks occur. We will ensure that financial services play an active role in meeting the needs of the real economy, including small and micro businesses, agriculture, rural areas, and farmers. We will enhance the vitality of economic entities under all forms of ownership. We will uphold and improve the basic economic system. We will improve the distribution and structure of the state-owned sector of the economy and accelerate the development of mixed-ownership economic entities. We will establish a sound modern corporate structure and corporate governance. We will improve the system for managing state-owned assets, clearly define the functions of different SOEs, and carry out trials of investing state capital in corporate operations. We will improve budgeting for state capital operations and raise the percentage of earnings from state capital turned over to public finance by central government-owned enterprises. We will formulate measures for non-state capital to participate in investment projects of central government enterprises, and allow non-state capital to participate in a number of projects in areas such as banking, oil, electricity, railway; telecommunications; resources development and public utilities. We will formulate specific measures to permit non-public enterprise participation in franchising. We will reform the railway investment and financing system, and open competitive operations in more areas so as to create a platform for the full participation of private capital. We will improve the property rights system to ensure that property rights are inviolable in both the public and non-public sectors.