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Premier urges help for SMEs, individual businesses by any possible means

Updated: Mar 20,2020 20:47 PM

Every possible way should be tried to help micro-, small- and medium-sized enterprises and individual businesses survive the novel coronavirus (COVID-19) epidemic, Premier Li Keqiang said on March 20 when inspecting the State Council’s mechanism for work and production resumption.

In a video call with two large companies, the Premier asked about the resurgence in business activity and difficulties encountered in the process, and in reply learned they have recovered much of their normal capacity but relevant micro-, small and medium-sized enterprises did not catch up, which has directly blocked upstream and downstream industrial and supply chains.

Their feedback also indicated many small and individual businesses are still struggling to get loans due to the lack of sound accountability systems in local financial institutions, despite the fact the government has released a series of policies to financially support them in overcoming the epidemic.

Premier Li immediately issued instructions to address those problems. With stable employment on top of the government’s agenda this year, macro fiscal, tax and finance policies must tilt toward micro-, small- and medium-sized enterprises and individual businesses, which serve as the hugest engine for job creation, he said, urging an all-out effort for their survival in the virus fight.