The regulation also called for stricter implementation

 of programs and compliance oversight to ensure that the required funds of investment programs are in place on time.

The approval mechanism for government-invested pro

grams will be further standardized, and major programs must go through procedures suc

h as evaluations by intermediary service institutions, the public and experts, as well as risk assessment.

Government investment funds must prioritize investments into areas where the market cannot effectively allocate res

ources, such social services, public infrastructure and environment protection, the regulation said.

It also calls for equal treatment of various

types of investment entities, adding that authorities should not set up biased conditions.

The premier said in his Government Work Report this year that Chi

na will pursue a proactive fiscal policy with greater intensity and enhance its performance.

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