China stresses implementation of fiscal, tax policies for SMEs

People dine at the Fushansuo Market in Shinan District of Qingdao, east China's Shandong Province, Aug. 7, 2023.(Xinhua/Li Ziheng)

BEIJING, Aug. 24 (Xinhua) -- China's Ministry of Finance Thursday called for efforts to fully implement fiscal and tax policies to support small and medium-sized enterprises (SMEs) to boost their high-quality development.

The ministry stressed the implementation of tax and fee reduction policies to reduce tax burden on small and micro enterprises.

Illegal conduct will be cracked down on with a zero-tolerance stance, the ministry said in a circular.

It also stressed coordinating fiscal and financial policies to ensure the financing demand of SMEs.

The ministry also stressed the implementation of supportive policies such as government-procurement and stabilizing employment to accelerate the development of SMEs.

The circular also encouraged local governments to roll out targeted fiscal policies to help SMEs shore up their weak links.