Mainland China says it will accelerate reforms to sectors with government investment, including electricity, oil, natural gas, railway, civil aviation, telecommunications and military industries, Xinhua reports.

The report by the government-run news agency quotes information from the Central Economic Work Conference.

Officials also promised to promote entrepreneurship and to ensure the protection of intellectual property rights. The plan includes fiscal and financial reforms.

China’s authorities will also “push for more private banks in an orderly manner” and reform the country’s insurance system, Xinhua says.