China stresses implementation of fiscal, tax policies for SMEs

(Xinhua) 08:29, August 25, 2023

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.

(Web editor: Zhang Kaiwei, Liang Jun)


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