BUSINESS China to continue reward policies to help small firms

BUSINESS

China to continue reward policies to help small firms

Xinhua

08:53, May 09, 2021

Workers are busy at a telecommunications company in Hejian, North China's Hebei province, on June 30, 2020. (File photo: Xinhua)

BEIJING, May 8 (Xinhua) -- China has unveiled a guideline to continue its reward and subsidy policies to boost financing for small and micro-enterprises.

Through special funds from the central budget, the country will reward and subsidize provinces where such firms enjoy wider and cheaper access to financing between 2021 to 2023, said the guideline issued by the Ministry of Finance and the Ministry of Industry and Information Technology.

Moves will also fine-tune the policies according to the impact on these enterprises from the COVID-19 pandemic and downward economic pressure.

These moves include raising reward caps for areas with notable fee-cut results, offering preferential policy incentives to the central and western regions, and ramping up verification, the guideline said.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue