The development of rapid transit rail lines in cities should parallel local economic development and blind construction of such lines should be avoided, a State Council conference said Wednesday.
The meeting, chaired by Premier Wen Jiabao, said the building of rapid-transit rail lines in cities should be carried out according to strict guidelines and management systems of such lines should be improved.
It stressed that the amount of domestically made equipment used in such infrastructure projects needs to be increased.
The meeting also deliberated on the draft amendments for laws governing the People's Bank of China and commercial banks.
Also discussed were the draft law on the supervision and management of the banking sector and draft regulations on the management of central food reserves.
It was agreed at the meeting that the laws governing the People's Bank of China and commercial banks need to be amended so that the roles and responsibilities of the two are made clear.
The draft regulations on the management of central food reserves will be enacted by the State Council after further improvement.
(China Daily August 7, 2003)
