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Vice-premier reiterates favorable policies for SMEs

Updated: Oct 28,2014 2:58 PM     Xinhua

Vice-Premier Zhang Gaoli has reassured small and medium-sized enterprises (SMEs) that supportive measures to help them weather the downward trend and stimulate economic growth are a priority.

Zhang urged administrations and local authorities to genuinely implement favorable policies announced by the central government for SMEs when visiting small firms in East China’s Jiangsu province on Oct 27.

The government at all levels should continue to reduce burdens on the SMEs through simplified administrative procedures, tax breaks and improved financing channels, he said.

He stressed the government should help SMEs be innovative, have intellectual properties and establish their own brands, which will make them capable of going out to compete with international rivals.

A government-led service platform to help companies address problems when starting out is also expected, he said.

Small firms are irreplaceable in boosting economic growth, making technological innovation, creating jobs and enhancing people’s well-being, Zhang said.

In addition, Zhang called for confidence in China’s economy and said the governments should also be clear-headed and make practical efforts in a bid to fulfill major economic and social targets of the year.