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China to Assure Medium/Small-sized Enterprises of Policy Support
Sources from a national meeting on medium- and small-sized enterprises say that more policies will be out in the coming new year to back up development of medium- and small-sized enterprises in China.
China is reported to have promulgated in the past few years a "Corporation Law", "Partnership Law", "Sole Enterprise Law" and some others in addition to amendments made to "Constitution" in specifying self-employed investors' legal status, investment mode and their property obligations in developing private economy. To add to these are also "Policies on Opinions on Development of Medium- and Small-sized Enterprises" issued by the Chinese Government earlier this year and the draft of the "Law for Promotion of Medium- and Small-sized Enterprises" by the State Economic and Trade Commission (SETC) last year.
For an improved legal environment conducive to medium/small-sized enterprises' development in China a leading group has already been formed under the SETC with representatives from technological, financial, taxation departments and the People's Bank of China. A series of supporting policies as speeding up the development of medium/small-sized enterprises in technological field, encouraging foreign funds to invest or launch joint ventures, simplifying the procedure of bankruptcy and accounting will be adopted by the group, said Li Rongrong, vice minister of SETC
By PD Online Staff Huang Ying
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