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1st LD: China to improve Internet speed, cut fees

Xinhua, May 13, 2015 Adjust font size:

The State Council, China's cabinet, promised faster broadband and lower Internet prices on Wednesday.

China will accelerate construction of a high-speed network with lower charges, support "Internet Plus" and foster new growth impetus, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

"Internet Plus" is the integration of the Internet and traditional industries through online platforms and technology.

Telecom companies should publish detailed plans for faster and cheaper broadband and offer free upgrades to existing customers.

Optical and broadband networks will be expanded in the countryside to improve access in 14,000 villages by the end of this year.

Greater bandwidth is needed to help the country connect with the world more easily and attract investment, the statement said.

An open market, fair competition and more financial support will help with upgrades in rural areas and expand pilot broadband access to over 100 enterprises by the year end.

Stricter monitoring of broadband services and charges will protect consumers.

The meeting agreed to promote public-private-partnerships (PPP) in transportation, environmental protection, medical care and pensions.

PPPs will optimize public capital selection through fair competition among state-owned and private enterprises, increase the supply of public products and services, change government's role and fuel new growth.

The meeting demanded red tape be cut and encouraged local government and financial institutions to establish funds making full use of tax breaks, financial incentives and transfer payment.

China encourages social security and insurance funds to be involved in public products and services, the statement said.

A mechanism to adjust price and availability of public services will be established.

To deepen reforms and vitalize capital, the meeting decided to expand the pilot securitization of credit assets by 500 billion yuan (81.8 billion U.S. dollars).

Li urged pilot banks to contribute to refurbishing rundown housing, water projects and extending railways in central and west China.

The meeting also announced better supervision of local authorities to streamline administrative approval, which has become a highlight of central government work. Endi