City scrapping $1.4b a year in fees

Shenzhen is to scrap or reduce more than 100 government and administrative fees, which could save companies and individuals 1.5 billion yuan (HK$1.41 billion) a year.

Among the fees to be scrapped are the 'city population growth accommodation fee' which is charged to all temporary residents; the fee levied for being examined by the finance department; and the construction application fee charged by the City Planning and State Resource Department.

Authorities also have promised to publish a list of fees each year in newspapers to encourage transparency and media monitoring.

The fee cuts, which follow Beijing guidelines, are aimed at reducing business costs and improving the investment environment.