It is said that the State Council was now incubating a policy to promote the development of Chinese small and medium enterprises (SME), and relevant departments were carrying out discussion to come up with a specific program.

The source said that the program was sponsored by Ministry of Industry and Information Technology and discussed by Ministry of Finance, State Administration of Taxation and other departments which sent research teams for investigation around the country. Since the National Bureau of Statistics could not provide specific data about China’s small and medium enterprises, this policy may not relate to the specific subsidy and a supporting mount, but would be a "general preferential policy".

According to statistics, the number of SME currently accounts for 99% of the total enterprises in China. The SME create 60% of the country´s economic aggregate and provide nearly half of revenues and 80% of jobs. The status of SME has been enhanced in the economic and social development; under the continuously deepened and spread international financial crisis, to speed up the healthy development of SME is of great significance for promoting economic growth, increasing revenues, expanding employment in urban and rural areas and maintaining social stability.

Source:Xinhua