Reducing unnecessary fees to help enterprises flourish

Cutting costs will give a boost to the real economy, increase competitiveness and raise living standards

Approximately 15 billion yuan ($2.3 billion) in costs will be saved by enterprises as China strives to further reduce fees charged on entities and help increase their competitiveness, according to the State Council, China's cabinet.

The decision was made at a State Council executive meeting, presided over by Premier Li Keqiang on Wednesday.