Update | Global economic conditions ‘bewildering’ says Chinese premier, but China on the right track
Beijing to help businesses lower their costs and spur progress in financial leasing sector
China's State Council has vowed to ease the financial burden on some businesses and lower the capital barrier to entry in the financial leasing sector.
After a meeting on Wednesday, the council, the central government's cabinet, said the state would lower some export and import fees for companies, and cut the registered capital financial leasing firms need to set up subsidiaries.
A fund will also be created to support public and private investment partnerships, according to the meeting chaired by Premier Li Keqiang.
On Tuesday, Li said global economic conditions were creating volatility in markets, but that the government had room to innovate and deploy the right tools to meet its economic targets.
At a meeting with Kazakhstan's Deputy Prime Minister Bakytzhan Sagintayev, Li also said there was no basis for continued depreciation in the yuan.
