China cuts administrative fees

Updated: 2011-12-30 20:09


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BEIJING - China will scrap 253 types of administrative fees on enterprises charged by provincial-level governments from February 1, 2012.

The cancellation was announced by the Ministry of Finance (MOF) and the National Development and Reform Commission in a joint circular on the MOF website.

The move is expected to reduce enterprises' financial burdens by 10 billion yuan ($1.59 billion) annually, and will further improve the nation's business environment, the circular said.

China has abolished 182 types of administrative fees charged by central government departments since 2008, and enterprises have been exempted from fees totaling 178 billion yuan.