Company taxes, fees are to be trimmed

China will help enterprises reduce their tax burden and cut fees to help improve their competitiveness, Premier Li Keqiang pledged on Wednesday.

The costs of broadband access, electricity and logistics will be further reduced, with the total cuts in costs and taxes expected to reach 1 trillion yuan ($144.7 billion) this year, Li said at a news conference at the end of this year's two sessions.

Cost reductions for enterprises mean the government needs to "tighten its belt", he said.