The Chinese government will roll out more supporting policy measures to bolster small businesses, said Luo Wen, head of the State Administration for Market Regulation at a press conference on Monday.
These measures are to reduce their burden, foster favorable environment and protect the legitimate rights and interests of market entities, Luo said.
The combined measures issued by four regulatory bodies mainly cover six areas, he said.
"We will make active efforts to address the practical difficulties troubling small and micro market entities in their production and operation, and will keep enhancing targeted and differentiated assistance to individually owned businesses," said Luo.
Luo said the effective assistance should be offered to small- and medium-sized enterprises with certain advantages to improve their innovation and professional capabilities for high-quality development.
"We'll strive to effectively alleviate the burden on enterprises, making more efforts to reduce institutional transaction costs, advance the reform on one-stop government services, and continuously endeavor to consolidate the long-term regulatory mechanisms involving business-related charges," said Luo.
"Efforts will be made to foster a business environment featuring fair competition, quicken the progress to revise the Anti-Unfair Competition Law, push to eliminate policies and measures that hinder a unified market and fair competition and further release the potential of our super large market," he said.
The National Financial Regulatory Administration and the State Administration for Market Regulation have announced plans to drive financial institutions to increase their support for the real economy and small businesses.
"We'll endeavor to push financial institutions to intensify support for real economy and accelerate the improvement of working mechanisms for coordinating financing support for small and micro enterprises to help ease their financing difficulties," said Luo.
The Ministry of Industry and Information Technology will offer one-stop services for small and medium enterprises, including talent introduction, financing match-making, and digital empowerment, to help reduce costs, enhance efficiency, and improve product quality, said Luo. "We will resolutely safeguard the legitimate rights and interests of business entities. We will give equal treatment and protection to the private sector and create a good environment for the development of the non-public sector," said Luo.
"The Ministry of Justice will further strengthen supervision on business-related administrative law enforcement and actively promote strict, procedure-based, impartial, and non-abusive law enforcement," said Luo.
Together with Luo, officials from the other three departments were also present at the press conference and took questions from reporters.
China reaffirms commitment to boosting small businesses
