Text: | Print|

    China reiterates financial support for small businesses

    2013-08-13 10:50 Xinhua Web Editor: qindexing
    1

    China's cabinet on Monday unveiled details of financial support for the cash-strapped small businesses which play a key role in growth and employment.

    Credit growth to small enterprises should not be lower than total credit growth. The incremental amount should not be less than that recorded a year earlier, read a statement by the State Council.

    Village banks, credit companies and other small financial institutions are encouraged to set up branches in areas where small businesses are concentrated.

    Private banks, financial leasing companies and consumer financial companies are also encouraged to set up in those areas.

    "Private capital should have easy access to the finance industry. Small financial institutions can provide effective services and promote fair competition," the statement noted.

    With the economy slowing for several quarters, the government is looking to small businesses to stabilize growth and employment.

    In late July, a move was announced to suspend value-added tax and turnover tax for businesses with monthly revenues below 20,000 yuan (3,270 U.S. dollars) from Aug. 1.

    According to the Ministry of Industry and Information Technology, 99 percent of companies registered in China are small or medium enterprises. They provide up to 80 percent of urban jobs and 60 percent of economic output.

    Comments (0)
    Most popular in 24h
      Archived Content
    Media partners:

    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.

    主站蜘蛛池模板: 清苑县| 新田县| 建湖县| 永州市| 横峰县| 平阴县| 河池市| 玉田县| 武平县| 德江县| 台中县| 治县。| 昌邑市| 天台县| 蓬安县| 桐柏县| 仁布县| 马关县| 江安县| 濮阳县| 牙克石市| 沅陵县| 五大连池市| 普兰店市| 峨山| 黄平县| 会昌县| 浦县| 泽州县| 阳朔县| 大埔区| 吉安县| 石泉县| 白山市| 乐平市| 玉林市| 自贡市| 巴楚县| 宁河县| 绍兴市| 鄢陵县|