March 3, 2020 / 12:19 PM / a month ago

UPDATE 1-China to boost support for transportation, logistics firms - state media

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BEIJING, March 3 (Reuters) - China will step up its efforts to support transportation and logistics firms, including steeper tax and fee cuts, state television quoted the cabinet as saying on Tuesday.

Authorities will guide transportation and logistics firms, including express delivery firms, to resume operations in an orderly manner, the cabinet was quoted as saying at a regular meeting.

The government will step up tax and fee cuts for transportation and logistics firms, which will pay half of land use taxes for bulk commodity storage, the cabinet said.

From March 1 to June 30, port construction fees for import and export goods will be exempted, and government-set fees on port facilities will be reduced by 20%, the cabinet said.

By the end of June, transportation and logistics firms will pay half of railway insurance fees and charges on extended use of containers, it added.

China will also speed up the allocation of transfer payments to local governments, the cabinet was quoted as saying.

The cabinet reiterated that it will strive to maintain economic operations within reasonable range this year.

Reporting by Lusha Zhang, Judy Hua and Kevin Yao; Editing by Alison Williams and Chizu Nomiyama

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