Aug. 31 – China’s State Council released the “Scheme on Division of Work for Key Authorities to Further Support the Healthy Development of Micro and Small-Sized Enterprises (MSEs) (guobanhan  No.141, hereinafter referred to as the ‘Scheme’)” on August 2, containing 75 working items and involving more than 10 governmental authorities. The key information of the Scheme can be found below.
Further strengthening financial and tax support to MSEs
- The total scale of special funds for MSEs has been expanded from RMB12.87 billion to RMB14.17 billion in 2012, and will be increased annually. (handled by Ministry of Finance)
- A central finance committee will allocate RMB15 billion to the Development Fund of MSEs on a five-year basis, and RMB3 billion will be contributed to the fund in 2012. (Handled by Ministry of Finance, Ministry of Industry and Information Technology, Development and Reform Commission, and Ministry of Science and Technology)
Making efforts to relieve MSEs from difficulties in financing
- Implementing various financial policies to support the development of MSEs
- Expanding financing channels
- Expediting the development of small financial institutions
- Strengthening the credit guarantee service for MSEs
- Regulating the financing services provided to MSEs
Promoting the innovation development and structure adjustment of MSEs
- Supporting the technical transformation of MSEs
- Improving the innovation capacity of MSEs
- Improving the capacity of inventing, utilizing, protecting and managing the intellectual property of MSEs
- Supporting the development of innovation-oriented, entrepreneurial and labor-intensive MSEs
- Expanding the scope for private investment
- Accelerating the elimination of backward capacity
Intensifying support to the market exploration of MSEs
- Innovating the marketing and business mode
- Improving custom clearance services
- Simplifying the formalities for domestic sales of processing trade
- Implementing the pilot mode of bonded regulatory control on integrated circuit industry chains
Assisting MSEs to improve their operation and management levels
- Supporting management innovation
- Improving quality management levels
- Strengthening human resource development
- Formulating and improving polices to encourage college graduates to find employment in MSEs
Facilitating the cluster development of MSEs
- Arranging the land for industrial cluster development
- Improving the environment for the cluster development of MSEs
Intensifying public service provided to MSEs
By 2015, 4,000 public service platforms will be established and improved to serve MSEs and priority will be given to cultivate and select 500 demonstration platforms of public service. (Handled by Ministry of Industry and Information, Ministry of Science and Technology, Ministry of Commerce, and National Bureau of Quality Inspection).
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia.
For further details or to contact the firm, please email firstname.lastname@example.org, visit www.dezshira.com, or download the company brochure.
You can stay up to date with the latest business and investment trends across China by subscribing to The China Advantage, our complimentary update service featuring news, commentary, guides, and multimedia resources.