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China plans to reduce corporate costs

Xinhua, August 22, 2016 Adjust font size:

The Chinese government has planned a basket of favorable measures for companies in the real economy to cut costs as part of efforts to bolster lackluster economic growth, an official document said.

The measures include lower tax burdens, cheap financing and reduced red tape, as well as more affordable land use, energy consumption and logistics, according to a work scheme released on Monday by the State Council.

The government aims 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. Endi