China cuts red tape to better serve raw material firms

China has cut red tape to boost healthy growth of enterprises in the raw material sector, according to the Ministry of Industry and Information Technology (MIIT) Thursday.

The MIIT has abolished 33 regulations on market access requirements for raw material enterprises, including yellow phosphorus, hydrogen fluoride and tungsten, according to an MIIT statement.

This is in line with the central government's efforts to streamline administration, delegate power to lower levels and improve regulations and services to optimize the country's business environment, it said.