VENTURE CAPITAL POST

Chinese policymakers on Monday announced guidelines for reform priorities in 2015, ranging from streamlining administrative procedures to boosting the yuan's global role, as Beijing steps up efforts to open up the country's capital markets.

China's cabinet unveiled new measures on Friday to boost employment, offering more flexible tax breaks to companies to hire the jobless, preferential loans and incentives for farmers and new graduates.

China plans to cut red tape and reduce costs for Chinese firms looking to spread their reach overseas to help boost growth and stave off a wider economic slowdown, according to a statement from the ruling State Council.

China pledged on Friday to push ahead with a broad range of capital market reforms as it seeks to encourage more efficient capital allocation, increase foreign investment and improve transparency of its markets.

China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.

Citing a copy it obtained of Document 107, Reuters reported that the State Council of China has published guidelines that aim to fortify regulation against the risky practice of shadow banking.

China's State Council would be reviewing the laws and regulations regarding foreign investments in the country.

China planned to add 10GW solar power annually over the next 3 years.