The Chinese government is studying a plan to hold officials accountable for the investment decisions they make in office.

The new regulatory system, which is being drafted by the State Development and Reform Commission, is an essential part of the overall investment reform policy announced in late July.

The Beijing-based China Business Post quotes a commission official as saying that one possibility was to subject the process of decision-making on government investments to the scrutiny of the national and local people's congresses.

Public hearings could also be held if an investment project was expected to have a major impact on people's lives. If a project went bankrupt, the official in charge would be held responsible.

The regulatory system will better target investment issues, from the decision-making process to assessment and evaluation of the efficiency of investments.

At present, government investments comprise about 10 percent of the country's fixed-asset investment.

(CRI September 3, 2004)