Government plans cuts to fees

PUBLISHED : Saturday, 20 December, 1997, 12:00am
UPDATED : Saturday, 20 December, 1997, 12:00am

The mainland will slash management and handling fees on 22 items from next year to aid enterprises, the People's Daily said yesterday. The State Planning Commission and the Ministry of Finance jointly announced that cuts of an average of 35 per cent on the first batch of 22 items would start from January 1. The agencies estimated the cuts would save firms an average of four billion yuan (about HK$3.72 billion) a year. The fees to be cut include the supervisory management fee charged to securities and futures exchanges, waterway and road-use charges, plant and livestock quarantine fees and registration charges for township and village enterprises.