The Ministry of Finance said Saturday that China has abolished 31 types of administrative fees on enterprises since the beginning of the month in a bid to further improve the nation's business environment.

The move is expected to reduce enterprises' financial burdens by 5 billion yuan (757 million U.S. dollars) annually.

The abolished administrative charges include license registration and annual check-up fees, along with anti-epidemic service fees as well as charges in other fields, the ministry said, adding that the new policy would also help curb inflation.