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
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
