China moves to further cut logistics costs

Source: Xinhua| 2017-07-05 23:22:06|Editor: yan
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BEIJING, July 5 (Xinhua) -- The State Council on Wednesday announced new measures to cut logistics costs to lower the corporate burden and help economic upgrades.

Lowering logistics costs while raising efficiency will help in "promoting mass entrepreneurship and innovation, job creation and the development of modern services," according to a statement following a State Council executive meeting presided over by Premier Li Keqiang.

Before the end of 2017, the country will simplify approvals of licenses for heavy cargo transport crossing provincial regions by putting licenses online.

China will also take more measures to reduce taxes and clear fees, including a pilot program for charging different freeway tolls based on the time of day.

The country will regulate the enforcement of laws on road transportation to reduce violations and avoid penalties imposed by more than one authority.

China will also step up the construction of national-level logistics hubs, as well as freight gathering and distribution facilities in important areas, the statement said.

The executive meeting also discussed problems found in an audit of the central government's 2016 budget, fiscal revenue and expenditure, which was made public last month.

Problems including failure to implement policies and substandard use of public funds must all be rectified within time limits, the statement said.

The country will build a mechanism with lasting effects to curb the repetition of the same problems, reinforce supervision over the rectification process.

Arrangements were also made during the meeting to get rid of unreasonable constraints for investors.

China will make more regulations and policies that further stimulate market vitality to create a fair legal environment, and use more high-quality assets to attract different kinds of investment through public-private partnerships.

KEY WORDS: Li Keqiang