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Inspection campaign seeks to ease firms鈥 burden
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A “special inspection” campaign to crack down on arbitrary charges by banks and government administrative departments will begin from next month, the National Development and Reform Commission said yesterday.
The inspections, to last more than eight months, will scrutinize charges levied by banks and government departments responsible for construction, transport, environmental protection, industry and commerce as well as fire administration, the country’s top economic planner said on its official website yesterday. The aim of the inspections is to eradicate these charges and ease the cost of doing business for enterprises. No other details were released.
Commercial banks will be penalized if they impose mandatory fees on loans that drive up the overall cost of borrowing for enterprises. The NDRC also said penalties will be levied for arbitrary charges that are imposed on medium-, small-, and micro-sized businesses. Industry associations that collect mandatory membership fees will also face penalties.
Borrowing costs for certain companies surged up to 20 percent, Xu Kunlin, head of the NDRC’s anti-monopoly bureau, said in Beijing yesterday.
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