6 new laws and regulations bettering people's lives in China

Revised promotion law to reduce enterprise burdens

According to the promotion law, the central government and local governments at or above county level should create a special fund via measures including subsidies, purchasing services and grants to build the public service system and the financing service system to support middle and small-sized enterprises.

By regulating finance and taxation policy to reduce the enterprises' burdens, the newly revised law balances fair competition and protection in market, and helps enterprises see greater gains.