China planning to consolidate regulators

China is planning to consolidate its regulatory agencies to help it respond more rapidly to economic and social issues, the Wall Street Journal reported. It is hoped that merging many existing agencies into a smaller number of more powerful ministries will help to reduce bureaucratic conflicts. At the Communist Party congress held in October, President Hu Jintao said his government would "step up efforts to streamline government organs." Hu has also made less government intervention in the economy a priority.