China acts to evaluate burden reduction measures for enterprises

2017-11-07 08:54:02

The State Council, Chinas cabinet, has started a nationwide overhaul of measures to ease the corporate burden.

The items to be reviewed include cost reduction, arbitrary administrative charges and service mechanisms.

Much emphasis is put on addressing problems that impede enterprises, according to the State Council.

The inspection was divided into three phases -- self-inspection, field supervision and rectification -- at a joint inter-ministerial meeting of the State Council committee for reducing enterprise costs.

The country is on the way reducing corporate costs by 1 trillion yuan (about 147 billion U.S. dollars) this year.

A government report this year said multiple measures would cut costs for companies, the structural tax cut should pay off as much as possible and a straightforward, transparent and fairer tax regime was in the pipeline.