May 17, 2017 / 11:22 AM / 2 months ago

China to further cut company costs by 120 billion yuan: State Council

1 Min Read

BEIJING (Reuters) - China will further cut cost burdens on companies by an annual 120 billion yuan ($17.4 billion) by eliminating various fees, the State Council, or cabinet, decided at a meeting led by Premier Li Keqiang on Wednesday.

Logistics fees will be cut, along with the removal of some toll road fees, and other fees related to power supply and membership in industry bodies will be reduced or scrapped, the cabinet said in its announcement.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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