China cuts bank card charges for businesses (2)

Card transactions that take place at public hospitals and public schools will be exempt from bank and payment network service fees, according to the statement.

Individual consumers will also benefit from the move, as high card charges for businesses are sometimes passed on to buyers in the form of higher product prices, the NDRC official said.

The Chinese government is eyeing domestic consumption as a major economic driver, as softer external demand and property investment have dragged down the country's growth.

Retail sales, a key indicator of consumer spending, rose 15.2 percent from a year earlier in December and was up from 14.9 percent in November, according to the latest official data.