BEIJING, May 22 (Xinhua) -- China's business environment is generally good, with some institutional transaction costs declining and reform measures of "streamlining administration, delegating powers and improving regulation and services" beginning to bear fruit, said a report on cost reduction released by Chinese Academy of Fiscal Sciences.
However, there are obvious different understandings of business environment among enterprises and much room for the reduction of institutional transaction costs still exists, according to the report, drafted on basis of 14,709 effective questionnaires responded online by enterprises of different types in different regions of China.
As the report held, various reform measures showed initial results. China’s business environment improves gradually with the environment for government affairs, the rule of law and the market as a whole turning better and better.
Meanwhile, the improvement of business environment has reduced some costs of financing, taxes and fees, and the operating conditions of enterprises have bettered.
There are still some problems troubling businesses, including the high cost of electric power and rising logistics cost.
To further improve business environment, the report suggested that public information service capital should be enhanced, construction of social credit system should be promoted and reform of monopoly industries should be deepened to reduce cost to a deeper extent for enterprises. (Contributed by Duan Jing, duanjing@xinhua.org; edited by Zhang Aifang)
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