MoSTly done

The government took a big step towards completing its reorganization.

ICYMI: At the Two Sessions in March, Beijing released a wide-ranging Party-state revamping plan, with the aim of finishing the central government side of things by year-end.

On Friday, the Party and State Council's general offices finally released details on the restructuring of five key central government bodies:

• The industry regulator (MIIT)
• The central bank (PBoC)
• The environment ministry (MEE)
• The National Health Commission (NHC)
• The Chinese Academy of Social Sciences (CASS)

Some highlights:

• The Ministry of Science and Technology (MoST) will hand over some S&T-related responsibilities to other ministries, including the MIIT (industrialization), the NHC (healthcare), and the MEE (environmental protection).
• The PBoC will hand over consumer protection and financial holding firm supervision to the new financial regulator (NFRA).

Get smart: That it took so long to issue the plans speaks to the level of internal horse trading involved.

What to watch: With the year-end deadline fast approaching, MoST's restructuring plan should drop soon.