Eight keywords of China's economy in 2016

8.Lower Corporate Costs

China will roll out a spate of policies to help companies lower their costs, according to the blueprint for 2016. Such mission include streamlining administration and delegating power to the lower-level authorities, tax relief, and creating a more favorable environment to the real economy. It is also important to lower utility price by promoting market-oriented reform of electricity price and to lower logistics costs through reforms.

"Under current business operating environment, Chinese enterprises are clearly faced with heavy burden and high costs. The Central Economic Work Conference put forward targeted solutions. In my point of view, the government must pay special attention to three issues. First, in facilitating enterprises operation, the government should emphasize on providing them with one-stop services so as to further lower transaction costs. Second, the government should further reduce taxes and fees while taking strict measures to eliminate unreasonable charges. Third, practical and effective measures are still necessary in lowering logistics costs, among which freeway collecting tolls and bridge tolls should be paid enough attention to. For freeways that have charged tolls for more than 10 years and have basically recovered the cost, the government can reduce relevant charges."

-He Weida, professor of the Economics and Commerce at the University of Science and Technology Beijing

Tax inspector inspects a car manufacturing company in Yangzhou city, Jiangsu province, Oct 20, 2015. [Photo/IC]