310b yuan in fee cuts to benefit businesses

The State Council has pledged to reduce fees by 310 billion yuan ($43.69 billion) this year to cut corporate burdens and protect jobs and businesses.

At its executive meeting on Wednesday, the Cabinet highlighted the importance of ensuring the full implementation of fee reduction measures already rolled out, such as the lowering of electricity prices for businesses by 5 percent and cutting the average price of broadband services by 15 percent this year.

Other measures include waiving airlines’ contributions to the Civil Aviation Development Fund, as well as port construction fees levied on importers and exporters, the Cabinet said in a statement.

It also vowed resolute action to ban unreasonable taxes and charges. Tax authorities must refrain from increasing the burden on market players by levying retrospective taxes, the Cabinet said.

The government will move forward with administrative streamlining and bolster compliance oversight and services to create a market-oriented, lawbased and internationalized business environment, it added.

A special campaign to overhaul illegal fees levied on businesses will be launched in key areas including imports and exports, corporate finance, public utilities, logistics, and intermediary services related to administrative approval.

The statement said the government will also work to improve mechanisms and systems to eliminate the breeding grounds for unreasonable charges on businesses.