4/3, 2:15 PM (Source: TeleTrader)
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China to cut fees, charges to reduce company burdens

China announced on Wednesday it will be cutting certain government-related service charges and fees, in order to reduce costs for entities and individuals, according to local media reports.

The measures will be in effect starting July 1, with the reduction amounting to ¥300 billion, or more than $44 billion, in 2019.

The move goes in line with Beijing's growing incentives to boost the economy, as announced by Vice Premier Han Zheng over the weekend, who stated that China wants to open up its economy further by helping imports with easier customs clearance.

Breaking the News / BM