Home Asia China Stimulates Small Business

China Stimulates Small Business

China has released a document to support the development of micro, small and medium-sized enterprises (MSMEs), detailing specific measures to promote the high-quality development of these firms, according to the Ministry of Industry and Information Technology.

The document, issued by the State Council, contained 15 measures that aim at stabilizing the growth and improving the competitive edge of the MSMEs in the country.

Seven of these measures seek to help MSMEs tide over difficulties through policy support, easier financing and demand expansion, among others.

In particular, large enterprises and platform institutions are encouraged to release procurement lists targeting MSMEs and carry out cross-border matchmaking activities, in order to create more business opportunities for these enterprises.

The document also outlined eight measures to help build up the core competitiveness of smaller businesses.

Efforts should be made to enhance talent cultivation, step up direct financing support for quality MSMEs and strengthen the application and protection of intellectual property rights of these firms, the document said.

Residents select decorations for the upcoming Spring Festival at a fair along Shanghai Road of Nanning City, south China’s Guangxi Zhuang Autonomous Region, Jan. 14, 2023. (Xinhua/Zhou Hua)

Residents select decorations for the upcoming Spring Festival at a fair along Shanghai Road of Nanning City, south China’s Guangxi Zhuang Autonomous Region, Jan. 14, 2023. (Xinhua/Zhou Hua)

Residents select decorations for the upcoming Spring Festival at Lanhua Square in Nanming District of Guiyang City, southwest China’s Guizhou Province, Jan. 14, 2023. (Xinhua/Tao Liang)

A resident selects decorations for the upcoming Spring Festival at Lanhua Square in Nanming District of Guiyang City, southwest China’s Guizhou Province, Jan. 14, 2023

Previous article Liquid Meta Hit by FTX Fallout
Next articleChina Recovering Fast from Covid
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.