Wednesday, October 3, 2012

Good news for chinese small and micro-sized businesses


On August 2, China’s State Council released the “Scheme on Division of Work for Key Authorities to Further Support the Healthy Development of Micro and Small-Sized Enterprises (MSEs), containing 75 working items and involving more than 10 governmental authorities. Overall can be said that there are good news for Chinese Micro and Small-Sized entrepreneurs, since the Government is taking clear steps to support them. The key information of the Scheme can be summarized as follows:

Further strengthening financial and tax support to MSEs
  • The total scale of special funds for MSEs has been expanded from RMB12.87 billion to RMB14.17 billion in 2012, and will be increased annually.
  • A central finance committee will allocate RMB15 billion to the Development Fund of MSEs on a five-year basis, and RMB3 billion will be contributed to the fund in 2012.
  • Implements various financial policies to support the development of MSEs.
Making efforts to relieve MSEs from difficulties in financing
  • Expanding financing channels.
  • Expediting the development of small financial institutions.
  • Strengthening the credit guarantee service for MSEs.
  • Regulating the financing services provided to MSEs.
Promoting the innovation development and structure adjustment of MSEs
  • Supporting the technical transformation of MSEs.
  • Improving the innovation capacity of MSEs.
  • Improving the capacity of inventing, utilizing, protecting and managing the intellectual property of MSEs.
  • Supporting the development of innovation-oriented, entrepreneurial and labor-intensive MSEs.
  • Expanding the scope for private investment.
  • Accelerating the elimination of backward capacity.
Intensifying support to the market exploration of MSEs
  • Innovating the marketing and business mode.
  • Improving custom clearance services.
  • Simplifying the formalities for domestic sales of processing trade.
  • Implementing the pilot mode of bonded regulatory control on integrated circuit industry chains.
Assisting MSEs to improve their operation and management levels
  • Supporting management innovation.
  • Improving quality management levels.
  • Strengthening human resource development.
  • Formulating and improving polices to encourage college graduates to find employment in MSEs.
Facilitating the cluster development of MSEs
  • Arranging the land for industrial cluster development.
  • Improving the environment for the cluster development of MSEs.
Intensifying public service provided to MSEs
  • By 2015, 4,000 public service platforms will be established and improved to serve MSEs and priority will be given to cultivate and select 500 demonstration platforms of public service.

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