The General Office of Hubei Provincial Government recently issued the Opinions on Further Reducing Enterprise Costs and Enhancing New Dynamics in Economic Development. Concerned with aspects like reducing enterprise energy use costs, logistics costs, financing costs, tax burden, institutional transaction costs, and labor costs, the Opinions put forward 31 policies and measures to reduce the cost of enterprises. It was the third round of policy on corporate cost reduction introduced by Hubei Province following the “25 articles” in 2016 and the “32 articles” in 2017.

　　In addition, we would further reduce the cost of institutional transactions, improve the efficiency of administrative services, clean up and standardize intermediary services and corporate-related margins, and improve the efficiency of fire services. We would also continue to implement the “five social insurance and one housing fund” preferential policy and increase funding support for the trade unions of small and micro enterprises.