NATIONAL DEVELOPMENT AND REFORM COMMISSION (NDRC)

The National Development and Reform Commission (NDRC) is a government agency in the People's Republic of China that is responsible for macroeconomic management, strategic planning, and policy coordination. The NDRC was established in 2003 through the merger of the former State Planning Commission and the State Development Planning Commission.

The NDRC's primary functions include:

-Economic planning and policy formulation: The NDRC is responsible for formulating and implementing national economic and social development plans, as well as policies related to energy, transportation, agriculture, and other strategic sectors.

-Investment review and approval: The NDRC is responsible for reviewing and approving major investment projects in China, including foreign investment projects and infrastructure projects.

-Price regulation and market supervision: The NDRC is responsible for regulating prices of key commodities, such as energy, electricity, and natural resources, and supervising market activities to prevent monopolies and price gouging.

-Regional development and poverty alleviation: The NDRC is responsible for promoting regional development and poverty alleviation in less developed areas of China, through investment, infrastructure development, and other policies.

-International cooperation: The NDRC participates in international economic and development organizations, and represents China in negotiations related to international economic issues.

-The NDRC is one of the most important government agencies in China, and plays a crucial role in shaping China's economic development strategy and policies.

The NDRC is also responsible for overseeing China's price and market supervision, including enforcing anti-trust laws, ensuring the safety and quality of food and drugs, and cracking down on counterfeit goods. In addition to its domestic functions, the NDRC is also involved in China's international economic diplomacy, and represents China in negotiations with other countries and international organizations on issues related to economic and social development.