China announces measures to lower business costs via tariff reduction, fee crackdown, and financial support for real economy.
China's National Development and Reform Commission and three other state agencies announced a series of measures to lower business costs nationwide. The country will reduce import tariffs on advanced technology, crack down on irregular fees, and improve financial support for the real economy. The measures also focus on optimizing tendering and government procurement systems and shortening the negative list for foreign investors to reduce institutional transaction costs.
May 23, 2024
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