China to improve policy support for SMEs

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China will further improve supportive policies to help small and medium-sized enterprises (SMEs) tide over difficulties, according to a circular released by the General Office of the State Council.

SMEs are the main force behind national economic and social development, but they are facing rising corporate costs and operational difficulties due to higher raw material prices, high logistics costs, sporadic resurgences of COVID-19, and power cuts in some areas, among other factors, the document noted.

The circular outlined relief policies such as increasing funding support, furthering tax and fee reductions, and providing support with financial policy tools in a flexible and precise manner..— Xinhua

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