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Chongqing to pilot land and financial reform

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-02-06 13:45

The State Council, or the Cabinet, said it will try to help speed up the integration between the urban and rural districts in Chongqing.

Related readings:  China approves first inland bonded area  Income from land transfers plunges  China strengthens land management to boost domestic demand  Guangdong looks to reclaim land

To achieve that goal, the central government has proposed the establishment of a unified real estate market mechanism in which the sales and leasing of rural land can be orderly processed.

The central government has also proposed the development of commodity futures settlement warehouses and a live pig forward market to help growers better plan their planting cycles.

In addition, the central government has recommended that Chongqing be considered as a part for the establishment of the proposed over-the-counter market to provide an additional source of capital to local enterprises.

The central government is also planning to set up a pilot scheme in Chongqing to allow insurance companies to invest in the municipality's infrastructure development.

Chongqing could also be selected as the city for the pilot program of reform of the foreign exchange management system, a center for electronic bills transaction and for micro-credit companies.