World Economy

China to Cut Red Tape

China to Cut Red TapeChina to Cut Red Tape

China plans to cut red tape and reduce costs for Chinese firms looking to spread their reach overseas to help boost growth and stave off a wider economic slowdown, according to a statement from the ruling State Council, Reuters reported. “This will help us withstand the downward economic pressure, and push China’s development into new spaces,” Premier Li Keqiang announced.