China Launches Measures To Support SMEs

September 29, 2009 | Print | Email Email | Comments | Category: Business & Society

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.

The new rule features a number of new highlights such as creating a better environment for the development of SMEs, deepening the reform of monopoly industries, expanding market access for SMEs, lowering the threshold for them and encouraging the use of non-government capital for the establishment of village or township banks.

According to the new rule, SMEs will be given more chances to join government procurement projects, and measures will be taken to help solve SMEs' difficulties in financing.

The rule says that SMEs that are seriously affected by the financial crisis will be allowed to suspend the payment of social insurance or pay lower taxes.

Li Yizhong, minister of China's Ministry of Industry and Information Technology, said that the government would also continue to inject more funds to improve the environment for the development of SMEs.

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