Feb 05

China Watch Blog has learnt that South China’s Guangdong province has announced a set of new policies to support cash-trapped small firms which play a vital role in creating jobs in the country’s largest provincial-level economy.

The new policies, which were published on the provincial government’s official website on Thursday, came as small- and medium-sized enterprises (SMEs) face mounting pressures caused by cooling export growth, rising costs and financing difficulties.

According to the online statement, the government will set up several development funds to build financing service systems for small companies, offer them support for scientific innovation and help them develop markets.

The province will also offer tax breaks and support some small firms to seek financing by becoming listed on the stock market, said the statement.

The statement also promised incentives for banks offering credit to small firms and urged them to establish an credit evaluation system suitable for small- and medium- sized firms.

Guangdong’s announcement came after the State Council said earlier this week that the government will support small companies with a 15 billion-yuan (US$2.4 billion) fund and preferential tax policies.

Small- and medium-sized enterprises create about 80 percent of the country’s jobs, but they usually have difficulty in securing bank loans, as Chinese banks prefer to lend to larger companies, especially state-owned enterprises.

If you think China Watch Blog's information is useful, click on cup of coffee on left hand side and make a small contribution via PayPal

Tagged with:

Archives

February 2012
S M T W T F S
« Jan   Mar »
 1234
567891011
12131415161718
19202122232425
26272829  
Custom Search

Other Links

Free Web Directory Including Breaking News Resources, Offer automatic, instant and free directory submissions. Free web directory Directory Free
gardening supplies Shop online at the gardenerscentre for a wide selection of garden and gardening supplies and products at low internet prices and fast home delivery service - gardenerscentre.eu
Media Directory. We are listed under Media Organizations category Newsmedia Directory Hong Kong Directory

Hong Kong Directory - A directory of Hong Kong based and themed web sites

Meta

  • Partner links

  • Rss Feed Tweeter button Facebook button Technorati button Reddit button Myspace button Linkedin button Webonews button Delicious button Digg button Flickr button Stumbleupon button Newsvine button Youtube button
    http://www.wikio.com