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Pricing reforms to speed up for bigger market role
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CHINA’S State Council has pledged to speed up pricing reforms to allow the market to play a bigger role in the process and ease business burdens to invigorate the economy.
While giving full consideration to the possible impact on the market and society, China will “gradually and orderly” reform the pricing mechanisms in the energy, transport and environment sectors, said a statement released over the weekend after a meeting of the State Council presided over by Premier Li Keqiang.
The move aims to promote market competition, break monopolies and activate social investment to help economic restructuring and improve people’s livelihoods.
The government will continue efforts to relieve burdens on small and micro-sized businesses, as well as startups, to encourage innovation.
From January 1, 2015, the government will cancel or halt 12 charges, including business registration fees, and scrap another 42 administrative fees.
From 2015 to 2017, small and micro-sized businesses with monthly sales of under 30,000 yuan (US$4,894) will be exempt from five government fees in the three years since their registration, according to the meeting.
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