China's State Council, the cabinet, on Tuesday submitted a plan on the reform of its institutions to the first session of the 14th National People's Congress for deliberation.

Here's what is listed in the plan:

To restructure Ministry of Science and Technology in self-reliance drive

China plans to restructure its Ministry of Science and Technology to better allocate resources to overcome challenges in key and core technologies, and move faster toward greater self-reliance in science and technology.

The restructured ministry will play a bigger role in improving a new system for mobilizing the nation to make technological breakthroughs, optimizing sci-tech innovation, facilitating application of sci-tech advances, and coordinating science and technology with economic and social development.

Its macro management functions in science and technology-related strategic planning, institutional reforms, allocation of resources, comprehensive coordination, formulating policies and regulations and supervision and inspection will also be strengthened, according to the plan.

To set up national financial regulatory administration

China will set up a national financial regulatory administration, according to the plan.

Directly under the State Council, the proposed administration will be in charge of regulating the financial industry, except the securities sector.

It will be established on the basis of the China Banking and Insurance Regulatory Commission, which will not be retained, the plan said, noting that certain functions of the People's Bank of China and the China Securities Regulatory Commission will be transferred to the new administration.

To deepen reform of local financial regulatory mechanism

China will deepen the reform of its local financial regulatory mechanism.

To do that, China will develop a local financial regulatory mechanism with agencies dispatched by central financial regulators as the mainstay, said the plan. 

The institutional structure and resources of these dispatched agencies will be optimized in a coordinated manner, the plan noted. 

China's top securities regulator to become government agency directly under State Council

The China Securities Regulatory Commission will become a government agency, rather than a public institution, directly under the State Council.

To advance reform of central bank branches

China will advance reform of the branches of the People's Bank of China, the central bank.

To improve regulatory mechanism on state-owned financial capital

China will improve the regulatory mechanism on state-owned financial capital. 

To unify staff management of financial regulators

China will unify and standardize the management of the staff of financial regulators.

To establish national data bureau

China will establish a national data bureau.

The proposed bureau, to be administered by the National Development and Reform Commission (NDRC), will be responsible for advancing the development of data-related fundamental institutions, coordinating the integration, sharing, development and application of data resources, and pushing forward the planning and building of a Digital China, the digital economy and a digital society, among others.

Certain functions of the Office of the Central Cyberspace Affairs Commission and the NDRC will be transferred to the new bureau.

To improve functions of agriculture and rural affairs ministry

China will improve the functions of the Ministry of Agriculture and Rural Affairs.

To improve elderly-care work mechanism

China will improve its elderly-care work mechanism to implement the proactive national strategy in response to population aging and to expand the basic elderly-care services to cover all senior citizens.

To improve IPR management mechanism

China will improve the management mechanism for intellectual property rights (IPR) to upgrade IPR creation, application, protection and management.

According to the plan, the China National Intellectual Property Administration, currently administered by the State Administration for Market Regulation, will be adjusted into an institution directly under the State Council.

The move is aimed at adapting to the demand of building a country of innovation, according to the plan.

China puts national administration handling public petitions directly under State Council

The National Public Complaints and Proposals Administration will become an institution directly under the State Council from one under the general office of the State Council.

The move is made to strengthen and improve the handling of public petitions and better safeguard the interests of the people.

To downsize staff of central-level state institutions by 5 percent

China's state institutions at the central level will downsize their staff by 5 percent.

The State Council will still consist of 26 departments besides its general office after the reform plan is implemented.