CHINA Small businesses to benefit from financial support


Small businesses to benefit from financial support

China Daily

13:51, April 07, 2020

Some ministry-level departments, including those responsible for finance, human resources and social security, and education, have responded recently to issues of public concern.

A teller counts cash at a bank branch in Hangzhou, capital of East China's Zhejiang province. (Photo: China Daily)

Government-guaranteed credit support boosted

China will offer more government-guaranteed financing and credit support to small and microsized businesses and agricultural and rural entities to tide them over the current tough economic times.

Government-controlled financing guarantee and re-guarantee entities should offer more help to such businesses and coordinate with financial institutions to solve the financing problems of small and micro-sized businesses, the Ministry of Finance said in a circular issued on Wednesday.

The country will accelerate equity investment through the State Financing Guarantee Fund this year, aiming to invest in 10 prefecture-level government-controlled financing guarantee institutions that have been successful in supporting small and micro-sized firms as well as agricultural and rural entities.

The fund will also work with banks' bulk guaranteed loan businesses, and is planning to increase reinsurance services by 400 billion yuan ($56.4 billion) this year, the circular said.

Local government-controlled financing guarantee and re-guarantee entities will halve small and micro-sized businesses' costs for financing guarantee and re-guarantee services this year and increase services to such businesses and agricultural and rural entities.

National unemployment registration service opens

The Ministry of Human Resources and Social Security opened its national unemployment registration service on March 31.

People can access the registration service on the ministry's online services platform- through the platform's smartphone application, as well as other websites and applications offering the service, the ministry said in an online statement.

They can also go to local public employment authorities to register.

The registration service is for unemployed people of working age who have the ability to work and want to find a job, including graduates and people who have left jobs, the ministry said.

Those registered will be able to enjoy free services such as guidance on employment policies and laws, and employment matching. Those eligible for government support, such as unemployment insurance, can apply during the registration process.

Ministry tells schools to keep their guard up

The Ministry of Education has told provincial-level education authorities to ensure the smooth operation of primary and high schools.

More schools are expected to open and take in students this spring as China makes progress in controlling and preventing the spread of novel coronavirus pneumonia.

In a notice published on its website on March 31, the ministry said local education authorities must not let down their guard against the pandemic, and must keep the virus out of schools.

The authorities and schools should monitor the pandemic's impact on the mental health of teachers and students, and arrange for experts to offer targeted counseling services to them after careful analysis, the ministry said.

They should also launch a special program offering instruction on disease prevention, and teaching the spirit the Chinese people have shown in fighting the virus.

Many students have been studying at home for more than a month because their schools delayed the new semester due to the novel coronavirus outbreak.

As a result, the ministry has required schools to assess the academic performance of each student and make targeted teaching plans for different grades and classes.

They should also pay more attention to special groups, such as the children of people working on the front line of disease control, and make sure no student is left behind, the ministry said.

It also asked the schools to offer online teaching to students who cannot attend school, such as those who are in quarantine, and to step up help for students about to graduate so that they can get ready for college or senior high school entrance examinations.

Xinhua contributed to this story.

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