China Details Continuation of Fee Cuts Through End of 2020

China’s State Council has extended a policy through the end of the year cutting certain business fees as Beijing prioritizes economic recovery from the Covid-19 pandemic.

The relief—which applies to airline fees, port costs, telecommunications and oil spill liability insurance—is projected to save companies around 310 billion yuan ($44 billion) over the course of the year, factoring in cuts implemented after the outbreak began, the State Council said in a June 17 statement that detailed a meeting chaired by Premier Li Keqiang.

Li said May 22 at the annual National People’s Congress meetings that China would ...