Wednesday, June 13, 2007

National Development and Reform Commission (NDRC)

The National Development and Reform Commission (NDRC) is a macroeconomic management agency under the State Council, which studies and formulate s policies for economic and social development, maintains a balance of economic aggregates and guides the overall economic system restructuring.


The NDRC's predecessor was the State Planning Commission (SPC), which was founded fifty-one years ago in 1952. The State Planning Commission was renamed as the State Development Planning Commission (SDPC) in 1998. After merging with the State Council Office for Restructuring the Economic System (SCORES) and part of the State Economic and Trade Commission (SETC) in 2003, the SDPC was restructured into the NDRC.



In the transition from the planned economy to a socialist market economy, our commission persists in deepening reform, subscribing to new ideas, transforming functions and giving full play to the fundamental role of the market in allocating resources. Meanwhile we have been making unremitting efforts to strengthen and improve macroeconomic management and forcefully promoting the sustained, rapid and sound development of the national economy.

The principal functions of the NDRC include:

1.To formulate and implement strategies for national economic and social development, long-term plans, annual plans, industrial policies and price policies;

2.To monitor and adjust the performance of the national economy, maintain the balance of economic aggregates and optimize major economic structures;

3.To examine and approve major construction projects;

4.To guide and promote economic system restructuring;

5.To carry out strategic readjustment and upgrading of industrial structure, coordinate the development of agriculture and rural economy and guide the
development of industry;

6.To formulate plans for the development of the energy sector and manage national oil reserve;

7.To promote the sustainable development strategy, social development and coordinated development of regional economy and implement the Western Region Development Program;

8. To submit the plan for national economic and social development to the National People's Congress on behalf of the State Council in accordance with the Constitution.

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