Wei Zhe, the CEO of China's B2B service provider Alibaba, announced at the inaugural ceremony of the Credit China Year that Alibaba will spend CNY1 billion setting up a small enterprise credit guarantee fund to promote the construction of a business credit system in China.

A China Medium and Small Wind Power Industry Promotion Alliance, which is reported to be the first of its kind in China, has been established in Beijing.

Li Yizhong, head of the Ministry of Industry and Information Technology, has disclosed to local media that China will continue to launch many favorable tax policies to support the development of small and medium sized technology enterprises.

China has published Several Opinions on Further Promoting the Development of Medium and Small Size Enterprises as part of the measures it is taking to help small and medium enterprises overcome financial difficulties.

China Merchants Bank has formally published its 2008 corporate social responsibility report.

China's Ministry of Finance and the China Banking Regulatory Commission are studying on the draft of a measure to annul bad loans for small and medium size enterprises and companies specializing in agriculture services.

According to a circular from the general office of the State Council, China will establish a ministry-level joint meeting on the management and supervision of loan guarantee services.