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Shanghai to help businesses cut costs by US$7.85 billion in 2018

May 11, 2018

Shanghai will help companies and businesses to reduce their cost burden by 50 billion yuan (US$7.85 billion) in 2018 with a series of policies and measures .

"In 2018, we will stick to push forward the supply-side reforms and focus on streamlining administration and lightening burden on companies to improve the business environment and vitalize the market in Shanghai," said Ma Chunlei, director of the Shanghai Development and Reform Commission.

To meet the 50-billion-yuan target, Shanghai has implemented 18 policy measures in 9 areas to slash cost on businesses.