China's State Council yesterday cut the required registered capital for service sector startups to 30,000 yuan in a move that insiders said would boost employment.

The State Council notice also stated that prices of electricity for commercial and industrial users would be the same before the end of the year.

The notice said authorities should lower the registered capital threshold for ordinary service companies, unless specifically stipulated otherwise by law, administrative rules and regulations.

Other regulations covering business location, investors, and business scope will also be relaxed.

For more details, please read the full story in Chinese (http://www.china-cbn.com/s/n/000002/20080320/020000074265.shtml).

(China.org.cn March 20, 2008)