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Fees axed, prices cut
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The Hangzhou government has announced a set of measures to reduce operating costs of enterprises, especially small- and medium-sized businesses. It axed more than 100 administrative charges and introduced 32 incentives to invigorate the economy.
Several fees for business registration, land acquisition, property registration, and property transaction are among the scrapped administrative charges. Land use fees will be reduced based on location, purpose of use and term of lease.
Starting this year, the price of electricity is 0.0447 yuan (0.7 US cent) lower per kilowatt-hour. Water and gas prices were also cut according to different districts and industries from November 20 last year.
The government will also lower customs clearance cost and waive cargo inspection and quarantine fees.
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