China to further improve business environment, lower costs for companies

China has rolled out new measures to optimize its business environment, aiming to ease current strains on small businesses and cement the foundations of economic recovery, according to a guideline unveiled on Thursday.

The guideline, released by the General Office of the State Council, called for the full implementation of the country's negative list system for market access and the removal of all hidden barriers.

China will continue to regulate charges on market entities, including administrative penalties, as well as fees incurred in the usage of power, water, gas and logistic services, the document said.

It urged the improvement of services catering to the needs of companies, stressing the importance of stepped-up efforts to upgrade enterprises involved in cross-border trade.

Oversight should be further enhanced to protect the legitimate rights and interests of market entities, while the exercise of administrative power should be kept within lawful bounds, according to the document.