24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

China Slashes Red Tape To Spur Business

Facing a challenging economic slowdown, the Chinese government pledged on Wednesday to cut red tape in the private sector and reduce government intervention to encourage business growth.

About 300 procedures subject to government approval, mostly in the areas of real economy, small and micro-businesses and private investment, will be removed, merged or devolved to a lower level of authority to avoid overregulation, according to a statement released after a State Council meeting.

Source: China Daily. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.