BUSINESS China moves to improve business environment by streamlining procedures

BUSINESS

China moves to improve business environment by streamlining procedures

Xinhua

21:14, January 04, 2021

BEIJING, Jan. 4 (Xinhua) -- The State Council, China's cabinet, has made arrangements to optimize the country's business environment by streamlining administrative procedures and strengthening regulation.

File Photo: Xinhua

A better business environment will further vitalize market entities, and play a crucial role in facilitating steady economic recovery amid complex situations, according to a statement issued Monday after a State Council executive meeting chaired by Premier Li Keqiang.

While reviewing the nationwide implementation of a guideline for improving the business environment, the meeting announced targeted measures to streamline administrative procedures, improve services and enhance regulatory effectiveness.

The meeting also passed the draft stamp tax law and the draft amendment to the regulations on grain circulation management.

Besides appropriate simplification of tax items and tax cuts, the draft law has canceled stamp duty on items such as licenses, and also made clear that the current preferential stamp duty policy remains unchanged.
The meeting also passed the draft amendment to the regulations on grain circulation management, in a bid to safeguard the legitimate rights and interests of grain producers, traders and consumers and to ensure food security.
The draft amendment strictly regulates policy-based grain management and specifies measures to prevent and reduce grain losses and waste.

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