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English > Politics > Politics-newsbrief>China Adopts New Policy to Shore up SMEs

China Adopts New Policy to Shore up SMEs

09-23 13:33 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-09-22/110258275.html

» China's State Council issued a directive Sept. 22 aiming to bolster the country's small and medium-sized enterprises (SMEs).
» The government will loosen rules for bank loans to SMEs in order to tackle difficulties in raising funds.
» Tax breaks will be increased to small firms with an annual taxable income below 30,000 yuan for the entire year of 2010.
» The directive encouraged central ministries and local governments to set up funds for guiding SME investment and to channel capital into the country's financial markets.
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