Mea­sures to be taken to re­duce cor­po­rate costs

China Daily (Canada) - - NEWS CAPSULE -

Lower taxes, cheap fi­nanc­ing and re­duced red tape are among mea­sures that the Chi­nese gov­ern­ment will give com­pa­nies to cut costs as part of ef­forts to bol­ster lack­lus­ter eco­nomic growth, an of­fi­cial doc­u­ment said.

The mea­sures also will in­clude more af­ford­able land use, en­ergy con­sump­tion and lo­gis­tics, ac­cord­ing to a work plan re­leased on Mon­day by the State Coun­cil.

Pol­i­cy­mak­ers aim to achieve ma­jor progress in about three years, which means a marked in­crease in cor­po­rate prof­itabil­ity.

China has rolled out an ar­ray of poli­cies, in­clud­ing tax breaks and easier mar­ket ac­cess, to help com­pa­nies weather the on­go­ing eco­nomic slow­down.

The coun­try’s eco­nomic growth stayed at 6.7 per­cent in the sec­ond quar­ter, the low­est level since the 2009 global fi­nan­cial cri­sis.

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