253 Items of Administrative and Institutional Fees Pertaining to Enterprises Cancelled

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Jan. 4 – The Ministry of Finance (MOF) and the National Development and Reform Commission (NDRC) recently issued a notice announcing the decision to eliminate 253 items of administrative and institutional fees pertaining to enterprises (“fees”) imposed by provinces, autonomous regions and municipalities directly under the central government, resulting in the reduction of enterprises’ burden by approximately RMB10 billion.

Based on the State Council’s request, the MOF and NDRC has conducted a thorough cleaning up of fees, and the 253 fees cancelled include famous trademark assessment fees, land value assessment fees, and mine management fees. Since 2008, the MOF has continuously strengthened its efforts to clean up administrative fees alongside with various relevant departments, and so far has already eliminated or reduced 182 fees imposed by the central government, with the amount of reduction reaching RMB178 billion.

Experts believe that the elimination of these fees is a specific measure adopted to sustain the stable and relatively fast development of the economy and maintain the basic stability of price levels, which will further optimize enterprises’ production and operation environment and support their development.