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More Chinese Smaller Firms Get Funding Help
China's small and medium-sized enterprises, especially those involved in the high-tech field, have been receiving hefty financial support from the central government.
Today's China's Daily reported that from June to mid-September this year, the State Medium-Sized and Small Enterprises Undertaking Fund, worth one billion yuan (120 million U.S. dollars), helped 1,280 projects around the country.
The fund, approved by the State Council in June, is the largest ever governmental investment in the science and technology sector. It is designated to be used to fund outstanding technological projects with high risks and high profit potential.
Technologically intensive small and medium-sized enterprises usually do not need a huge investment to get them off ground, because their management costs are low, their operation systems elastic and their reactions to the market fluctuations quick, according to experts.
A survey conducted by the management center of the fund shows that 1,089 selected projects will contribute 7.66 billion yuan (922.8 million U.S. dollars) to the nation's tax revenue and create 139,400 jobs.
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