Chinese vice premier stresses sound environment for SMEs

GUANGZHOU, Sept. 16 (Xinhua) -- Vice Premier Liu He on Thursday urged all departments and local governments to build a sound environment for the development of small and medium-sized enterprises (SMEs).

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a written address to the 17th China International Small and Medium Enterprises Fair and the first International Cooperation Summit for Small and Medium Enterprises, which kicked off on Thursday in Guangzhou, in south China's Guangdong Province.

Calling SMEs a major channel of employment and a key driver of scientific and technological innovation, Liu underscored enhancing the transparency and predictability of policies, protecting property rights and intellectual property rights, and facilitating fair competition.

Efforts should also be made to ease the financial burden on SMEs caused by rapid rises in cost, and to reduce the difficulties faced by companies in raising funds.

The reforms for a socialist market economy and the policies for China's opening-up will not change, said Liu, adding that the country will continue to offer strong support for SMEs and sound development of the private economy.