Policy digest

Red tape to be reduced in boost for business

The State Council executive meeting on Dec 24 decided to introduce more policies to improve the business environment, with measures adopted to cut the red tape businesses face when opening bank accounts and reduce the time required for the granting of patents and registration of trademarks.

A statement released after the meeting, which was chaired by Premier Li Keqiang, said China will continue with reforms to streamline administration, step up compliance oversight and improve services as part of efforts to stimulate market vitality and social creativity.