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CHINA PRESS: China has confirmed it will cut CNY300 billion in administrative
fees collected by the Government, China Securities Journal reported on Thursday.
The newspaper also reported the Government had approved drafts of regulations
under the new foreign investment law.
- Starting from July 1, registration fees for immovable property IP will be
removed, while fees for trademark registration, passport and visa pictures and
wifi services for cars will also be reduced, said officials led by Premier Li
Keqiang at China's State Council regular meeting.
- Taxes on certain goods taken by individuals into China, including food,
medicine, textiles, and electronics will also be cut from April 9, according to
- Laws covering Administration Permission, Trade Marks, Construction and
Electronic Signatures have also been approved and will be submitted for approval
by the National People's Congress, the Securities Journal said.