Opening Up & Reform: China enhances efforts to improve business environment
Updated 16:40, 12-Apr-2019
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02:22
China continues making moves to improve its business environment. New measures include easing enterprises' tax burdens and raising the level of public services. More now from CGTN reporter Zou Yun.
A handful of new measures are on the way, to make China's economy more resilient and its business environment more friendly. Effective Tuesday, China will cut tariff rates on baggage brought by individuals and articles mailed into the country to expand imports and consumption. Tax rates on products including food and medicine will drop from 15 to 13 percent. Rates for commodities including textiles and electronic appliances will be cut from 25 to 20 percent. These are among the government's large-scale tax cuts aimed at boosting economic vitality.
ZOU JIAYI CHINESE VICE FINANCE MINISTER "The larger scale tax cuts are an important part of deepening supply-side structural reform and proactive fiscal policies. Chinese president Xi Jinping emphasized that tax cuts and fee reductions play a vital role in reducing burdens on companies and increasing market vitality."
The tax cuts are among numerous reforms to improve the business climate for small and medium enterprises. And those measures have started to make a difference. Last October, a World Bank report endorsed China's reform efforts to better its business environment for small and medium enterprises. In its report "Doing Business 2019," China jumped more than 30 spots to its highest ever ranking — 46th in the annual global rankings. But there are also concerns, that China's ranking climbed too quickly and by too much, and that this path may not be stable. However, officials from China's top economic planner told CGTN the efforts and determination will not waver.
ZHOU XIAOFEI, VICE SECRETARY GENERAL NATIONAL DEVELOPMENT AND REFORM COMMISSION "There's always room to make it better, and this year we will keep improving the business environment, put ourselves in the positions of market entities and get rid of all barriers that restrict development, in order to create an efficient, transparent and stable playing field for businesses."
ZOU YUN BEIJING "Despite the improvements, the Chinese government says it will relax more limits that go beyond the official negative list for foreign investors. All these efforts are to ensure that China can provide a fair and favorable environment for foreign investors. ZY, CGTN, BJ."