Editor’s Picks 22 August 2016 at 23:19 GMT

China urges ministries to wage war on business costs

The South China Morning Post
China’s State Council has again sought to prod the country’s bureaucracy into action to cut costs for business, listing priorities for every major ministry. Wendy Wu writes most of the measures in a roughly 10,000-character document released on Monday were not new but the list underscores the urgency of the push as growth in the economy continues to slow. Beijing has made cost cutting a key policy goal to spur growth, with the finance ministry overhauling the tax system, the central bank reducing financing costs and the labour ministry lowering social pension payment obligations for business.
Read full article at The South China Morning Post


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