The Shanxi government recently formulated 60 measures to help local businesses cut costs and boost steady industrial operations. Those measures will take effect from April 1.

A total of 27 measures are about business costs. One measure concerns business administration. Fifteen relate to policy support, and 17 are about environment optimization. They are expected to cut 50.1 billion yuan ($8.07 billion) in business costs, including 46.5 billion yuan in miscellaneous charges and 3.6 billion yuan in government subsidies.

A total of 262 provincial-level business administration items will be removed or devolved to a lower-level organ. Administrative fees will be eliminated, reduced or postponed, which is expected to cut 45.1 billion yuan in business costs. Favorable fiscal, social security and land use policies will be granted, giving local businesses 3.6 billion yuan in subsidies. Government function transformation and environment optimization will be launched to cut 1.4 billion yuan in business costs.

Shanxi will also establish 12 billion yuan in investment funds for strategic emerging, culture and tourism industries to support equipment manufacturing, cultural tourism, new energy and materials, energy conservation and environment protection, food, drugs and modern services.

Edited by Michael Thai