China to boost policy coordination, government transparency: cabinet

October 31, 2016 8:21 AM EDT

Chinese Premier Li Keqiang listens to Belgian Prime Minister Charles Michel (not pictured) during the meeting at the Great Hall of the People in Beijing, China October 31, 2016. REUTERS/Kenzaburo Fukuhara

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BEIJING (Reuters) - China will attract more private investment into health care and other emerging industries, and improve policy coordination and transparency in the government, the State Council said on Monday, at a meeting headed by premier Li Keqiang.

The State Council, China's cabinet, reaffirmed a focus on supply-side reform, recognized institutional constraints on private investment and innovation and called for meeting annual economic growth targets.

China's economy grew at a steady 6.7 percent in the third quarter, but private sector investment is growing near record-low levels, with companies still facing an uneven playing field compared to state firms.

China will maintain a prudent monetary policy and proactive fiscal policy, President Xi Jinping told a meeting last week of the Politburo, the highest decision-making body of the ruling Communist Party.

(Reporting by Elias Glenn; Editing by Clarence Fernandez)

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