China Releases Key Points of Cost Cutting In 2023 to Reduce Enterprises Burdens

Published: Jun 14, 2023 15:03

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The National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, and the People's Bank of China issued the Notice on Doing a Good Job in the Key Work of Cost Reduction in 2023 on June 13, proposing 22 tasks in 8 areas.

The eight aspects for cost cutting include tax incentives, financial support, institutional transaction costs, labor costs, land and raw material costs, logistics costs, capital turnover, and internal enterprise potential tapping.

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