China's top regulators on Monday announced a series of detailed measures to further ease the burden on companies and step up support for small and medium-sized enterprises (SMEs).
The specific measures include addressing the practical difficulties troubling small and micro market entities in production and operation and will keep enhancing targeted and differentiated assistance to individually owned businesses, said Luo Wen, head of the State Administration for Market Regulation, at a press conference in Beijing on Monday.
And the government will strive to effectively alleviate the burden on enterprises and make more efforts to reduce institutional transaction costs, he said.
"We will vigorously advance the reform on one-stop government services, pushing the services for enterprises to shift from 'multiple places, multiple windows and multiple times' to 'one place, one window and one time.' We will make greater efforts to reduce the burden on enterprises and carry out special inspections and random checks on illegal charges levied on businesses with the focus on key charging bodies and key industry sectors," said Luo.
He said the financial supervision departments will strive to step up their efforts on support for the real economy to alleviate the financing difficulties of small and micro businesses.
Luo emphasized the need to tailor financial products and services for micro, small and medium-sized enterprises, and implement differentiated arrangements in terms of credit lines, interest rates, financing maturities, and repayment methods.
"We will promote the combined effect of equity, funds, bonds and other financing instruments, and realize an amount of 300 billion yuan (about 42.4 billion U.S. dollars) of credit enhancement and granting for quality financing each year, which will fully benefit all types of businesses," said Luo.
Top regulators release plans to support SMEs by streamlining services and boost financing
