China Abolishes 31 Administrative Fees to Alleviate Burden on Enterprises

The Ministry of Finance said Saturday that China has abolished 31 types of administrative fees on enterprises since the beginning of the month in a bid to further improve the nation's business environment.

The move is expected to reduce enterprises' financial burdens by 5 billion yuan (757 million U.S. dollars) annually.

The abolished administrative charges include license registration and annual check-up fees, along with anti-epidemic service fees as well as charges in other fields, the ministry said, adding that the new policy would also help curb inflation.