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China to standardize business charges

Updated: May 5,2017 9:03 PM     Xinhua

BEIJING — China will standardize business charges to clarify and lower business costs, China’s top economic planner said on May 5 in an online statement.

Improper service charges on companies will be canceled while those which are unreasonably high will be lowered, according to a statement released by the National Development and Reform Commission.

Specifically, brokerage businesses should not take advantage of government influence to make charges. Industry associations should not make mandatory charges.

By the end of August, China’s central authorities will conduct random checks on business charges, the statement said.

China has made significant progress cutting administrative charges and reducing the corporate burden. Since 2013, central and local authorities have eliminated more than 1,000 administrative fees.