China has eliminated some registered capital requirements for establishing new companies, the government said on Sunday, in a move to support long-term growth by cutting red tape and supporting small businesses.
Chinese Premier Li Keqiang has in recent weeks emphasized the need for administrative deregulation. Further administrative reforms are expected in the run-up to a key Communist Party meeting scheduled for next month.
The State Council, China’s cabinet, approved the rules at a regular meeting that Li chaired on Friday, according to announcement posted on the council website on Sunday.
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