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Wuhan to develop micro-sized enterprises

(Changjiang Daily)

16:53, August 17, 2011

Edited and translated by Liu Xiaoning, People's Daily Online

It is reported that Wuhan city recently has announced the decision of promoting the development of local micro-sized enterprises since this year.

The city plans to develop over 20,000 micro-sized enterprises and create jobs for more than 10,000 people every year. Within the next five years, the number of micro-sized enterprises will be increased five times over, while more than 50,000 workers will be absorbed into micro-sized enterprises. The target set for the plan is to hatch and foster a group of small and medium-sized enterprises with steady growth prospects.

The micro-sized enterprises are defined as companies with 20 employees or less and 30,000 yuan in registered capital or less. The technology, labor-intensive and livelihood-based micro-sized enterprises will be the focus of future municipal assistance policies. The local government's supports for micro-sized enterprises include taxation, financing and services.

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