CHINA China to further cut corporate costs

CHINA

China to further cut corporate costs

Xinhua

23:18, May 10, 2021

File photo: VCG

BEIJING, May 10 (Xinhua) -- China will further cut taxes and fees to boost the vitality of market entities, the country's top economic planner said Tuesday.

China will mobilize financial resources to support the real economy, reduce government-imposed transaction costs, and cut labor costs for firms, said a notice released by the National Development and Reform Commission and three other ministries.

The country will also reduce logistics costs, cancel or lower some highway and civil aviation port charges, and improve transport and logistics infrastructure, the notice said.

It added that efforts would be made to improve the capital turnover of firms and ensure timely payments to small and medium-sized enterprises.

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