China to ease the financing difficulties of SMEs to support the development of small and medium enterprises, recently approved by the State Council, the central government to add 10 billion to be earmarked for credit guarantee for small and medium enterprises. Together with the financial arrangements have been made this year, the central finance to support SME credit guarantee fund of 18 billion yuan, a substantial increase over the previous year. SME credit guarantee to support the capital, to take unpaid principal method of subsidy to make up for SME credit guarantee institutions compensate the loss.

SMEs to solve employment, and promote scientific and technological innovation, and promote the sustained and healthy development of the national economy and an important force. To promote the development of small and medium enterprises this year, the central government has issued a series of fiscal and taxation policies. Increased funding support, funding arrangements 1.9 billion to be earmarked for small and medium enterprises in support of scientific and technological innovation and technological progress; funds arrangement 1.2 billion to support small and medium enterprises “going out” to carry out international economic cooperation. At the same time, corporate income tax in accordance with the relevant provisions of the law, eligible small low-profit enterprises, reduced 20% enterprise income tax. A large number of small and medium enterprises involved in textile, garment export tax rebate rate from 11% to 14%. Increase fees and charges of clean-up efforts to further reduce the burden on small and medium enterprises. The implementation of these policy measures, will help enhance the capacity of SMEs to reduce the burden on small and medium enterprises, small and medium enterprises to promote technology innovation and further promote the healthy development of SMEs.