China introduces 370 reform measures in 2014

China's central authorities rolled out 370 reform measures in 2014, unprecedented in both scale and intensity,according to a Xinhua News Agency report published late Tuesday.

The report took stock of China's reform throughout last year, the starting year for comprehensively deepening reform. It said China had generally accomplished the 80 reform objectives set by the central leading group for this overhaul in 2014.

The report listed major reform measures including slashing exorbitant incomes of state-owned enterprise managers, relaxing over 700 administrative approvals, allowing the establishment of five private banks, trialing new judicial policies in six areas, and raising subsistence allowances to needy groups.

Moreover, China ramped up its campaign against graft, strengthening leadership for the reform drive as well as the development of socialism with Chinese characteristics, according to the report.

In 2014, a number of senior officials, both in service and retired, were investigated, including Zhou Yongkang, Xu Caihou, Ling Jihua and Su Rong.

Apart from ensnaring "tigers" (high-ranking officials) and swatting "flies" (low-ranking officials), China also launched the Fox Hunt campaign to capture officials who are suspected of economic crimes and have fled overseas, and carried out discipline inspections, among other moves.

The blueprint of comprehensively deepening reform was mapped out at the third plenum of the 18th Communist Party of China Central Committee in 2013, with the general objective identified as "improving socialism with Chinese characteristics and modernizing the country's governing system as well as capacity."