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Microcap & Penny Stocks : LGOV - Largo Vista Group, Ltd.

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To: Evan who wrote (4584)8/23/1999 5:21:00 AM
From: jmhollen  Read Replies (1) of 7209
 
"..From the Jus' so's ya know Department.."

Here are some interesting developments that will help cut down on the bureaucracy in China.

More than 2m will lose jobs in official shake-up JASPER BECKER in Beijing

China is preparing a major shake-up of its bureaucracy and will slash the number of officials in local government organisations by 2.2 million, the China Daily reported yesterday. It said a conference would soon be held to push forward the restructuring of local government to improve efficiency and cut running costs.

Municipal governmental agencies would be slashed from 61 to 45 and the number of senior officials in provincial governments and autonomous regions would be reduced from 53 to 40.

In poorer inland provinces the number might be reduced to as few as 30.

An estimated 5.48 million people work in local government organisations, half of whom would lose their jobs.

The plan has provoked strong opposition with some local authorities lobbying the state councils in an effort to keep current staff levels.

"There will be no leeway for any argument," the paper reported.

Last year, Premier Zhu Rongji began a push to cut staffing levels in central government bodies by 50 per cent and sharply reduced the number of ministries from 41 to 29. Remaining staff are getting a 30 per cent pay hike.

Mr Zhu is now also slashing the staff in state organisations which run the monopolies for grain, cotton and rubber which together employ six million.

The Government believes that about 60 per cent of staff in county level authorities were practically redundant.

Restructuring of provincial and municipal governments was scheduled to be completed by the end of the year.

Compensation packages were being worked out.

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Judging from our infamous Dizzy City, less bureaucrats can be nothing but good for business..!!
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