SMEs To Get Increased Backing In 2010
Source: Xinhua |
December 25, 2009, Friday
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Print Edition
Print Edition
CHINA would enhance support to small and medium enterprises in 2010 with preferential tax policy and easier channels to raise money, a minister said yesterday.
Li Yizhong, minister of industry and information technology, told the National People's Congress Standing Committee that the government has set up a special fund under the central budget to develop SMEs and will inject more money into the fund each year.
The government earmarked 10.89 billion yuan (US$1.59 billion) from the central budget to support SME development this year, more than doubled from 4.99 billion yuan in 2008, Li said.
By the end of September, China has 10.3 million enterprises, of which more than 99 percent are SMEs, he said.
Li Yizhong, minister of industry and information technology, told the National People's Congress Standing Committee that the government has set up a special fund under the central budget to develop SMEs and will inject more money into the fund each year.
The government earmarked 10.89 billion yuan (US$1.59 billion) from the central budget to support SME development this year, more than doubled from 4.99 billion yuan in 2008, Li said.
By the end of September, China has 10.3 million enterprises, of which more than 99 percent are SMEs, he said.
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