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China's small and micro-sized firms stable

(Xinhua)

09:55, October 19, 2011

BEIJING, Oct. 18 (Xinhua) -- Sheng Laiyun, spokesman of the National Bureau of Statistics, said Tuesday that the operations of the country's small and micro-sized firms remained stable and that massive bankruptcies or closures of these types of companies had not happened.

Sheng said at press conference that these small and micro-sized firms were experiencing a slowdown in business expansion and decreasing business revenues, but their performances were "generally normal."

Sheng made the remark based on surveys by the nation's statistical departments on 38,000 small and micro-sized firms.

Sheng said that due to tightened monetary policies at home and rising production costs, small and micro-sized firms faced problems such as a lack of available credit resulting from the difficulty in borrowing from banks.

To ease their economic difficulties the Chinese government has pledged stronger financial and fiscal support to small- and micro-sized businesses by reducing their tax burdens and encouraging banks to increase loans to them.

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