Business fees across China will be cut, the Chinese government has decided. Among the measures was a reduction in construction assurance deposit requirements and the cancellation of an industry restructuring charge that is ultimately levied via power bills. An industry oversight charge levied on banks and other financial institutions will also be scrapped. The Chinese government promised to slash business costs by CNY1 trillion this year. The Ministry of Finance is expected to publish a list of the administrative charges levied by central and local governments on its website before July.