Measures to be taken to reduce corporate costs
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.