Cabinet sets up joint economic panel

China's cabinet on Friday approved the establishment of a joint conference mechanism to coordinate the nation's drive for economic reform, at a time when the overhaul process is encountering tides of resistance.

According to a statement on the central government website, the State Council approved the joint conference mechanism involving 35 ministries and commissions under the cabinet.

The joint conference will be initiated by the National Development and Reform Commission, the top planning agency, joined by the People's Bank of China (the central bank), the Ministry of Finance, the Ministry of Land and Resources and other bodies.