A staff member works on the production line at a toy company in Wuzhi County, central China's Henan Province, Aug. 11, 2018. (Xinhua)

 
China's State Council decided Wednesday to further energize market entities and ease costs for firms by cracking down on illegal fee charges.

The move will ensure the effectiveness of policies cutting taxes and fees, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.

The meeting decided to further strengthen the responsibilities of government at all levels, especially local governments, and has made it clear that it will conduct a comprehensive investigation into illegal fee charging.

Government departments are strictly prohibited from transferring expenses they should bear to enterprises, and industry associations and public institutions, and must not use their administrative power to charge fees illegally, according to the statement released after the meeting.

All the fees on market entities, with no exceptions, must be made public, transparent and will be subject to supervision, the statement said.

Company fee regulations must also be integrated with reforms streamlining administration, delegating powers, and improving regulation and services.

The meeting also decided to intensify pilot regional financial reforms to enhance the role of finance in supporting reform, opening-up and economic development.

It urged the employment of multiple tools in a coordinated way, as required by macro policy, to effectively bring down real interest rates, support the development of small- and medium-sized banks, and lower financing costs for businesses, especially for micro, small and private firms.

The statement also emphasized the importance of setting clear objectives and taking a coordinated approach in promoting innovation in regional financial reforms, as well as establishing a working mechanism for regional financial reforms that allows dynamic adjustments to be made.