Vice-Premier Liu He urged efforts to research and implement policies and systems to support the development of small and medium-sized enterprises (SMEs).

Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee and head of the State Council’s leading group on the development of small and medium-sized enterprises, hosted the fourth group meeting in Beijing on Dec 13.

The group heard a report on the general development of small and medium-sized enterprises by the Ministry of Industry and Information Technology (MIIT), and the draft of a guideline and suggestions on improving support for SMEs. The group learned about the investigation result of financial support policies for SMEs by the China Banking and Insurance Regulatory Commission and the MIIT, and suggestions on solving financing difficulties.

During the meeting, it was emphasized that we should insist on consolidating and developing the public economy, and should encourage, support and guide the development of the nonpublic sector. Support should be given to private enterprises, as a market-oriented business environment based on the rule of law should be created for entrepreneurs.

All local governments are asked to attach greater importance to these enterprises. The evaluation and stimulus mechanism of financial services for SMEs should see more innovation, the financing guarantee system should be improved, and the construction of the SME credit information platform should be accelerated. Science and technology SMEs are encouraged to go public to get financing.

There will be a closer examination of equal competition for market structure, and strengthened protection for property rights and intellectual property rights. Statistical monitoring and a publishing system for SMEs will be improved, and international communication and cooperation should be enhanced. Related departments are also required to increase their work efficiency to better serve the development of SMEs.