(Yicai) Dec. 6 -- The majority of Chinese companies are generally satisfied with the business environment and feels it has improved from last year, according to survey results.

Around 90 percent of firms are content with the business landscape as they benefit from economic recovery, the issuance of policies that stabilize economic growth, as well as measures to reduce their burdens, according to a report recently released by the China Centre for Promotion of SME Development under the Ministry of Industry and Information Technology. It polled over 8,100 firms.

Some 60 percent of the enterprises said macroeconomic conditions this year are generally stable. Over 50 percent of the total anticipate their revenues to grow from last year and 46 percent of the firms expect their profits to rise.

More than four-fifths of the polled companies are enjoying tax breaks or fee cuts as those small-scale taxpayers are exempted from paying value-added tax and they can deduct research and development expenses while others can make lowered social security contributions.

Corporate costs and burdens have eased from last year due to a series of bailout policies, but some sectors still have issues regarding raw materials and labor costs, the head of the China Centre for Promotion of SME Development said recently during an interministerial conference.

"We will focus on the problem of corporate burdens and policy demands to adopt stronger and more effective measures to boost companies’ development and to support economic growth," per Xin Guobin, vice minister of Industry and Information Technology.

The MIIT will further ease these burdens and stimulate the vitality of the private economy by strengthening financial support, promoting tax breaks and fee cuts, as well as improving service systems, Xin said. It will also plan and launch new bailout policies to benefit firms and enhance the synergy of policies regarding taxes, finance, investment, and science and technology, as well as land usage, the vice minister added.

During the first 10 months of this year, China eased companies' burdens via over CNY1.6 trillion (USD204.7 billion) of tax or fee cuts, deferrals, or refunds and the private economy made up almost four-fifths of the total. It also canceled around CNY1.5 billion (USD191.9 million) of illegal fees, per the conference.

Editor: Emmi Laine